Ghana plans to introduce crypto asset laws by year-end

Johnson Asiama, Governor of the Central Bank of the West African nation of Ghana, said on the sidelines of the International Monetary Fund (IMF) meeting in Washington on Thursday that Ghana expects to introduce a law regulating cryptocurrencies and virtual assets by the end of December. Asiama said: "This is an important area and we must strengthen the supervision and monitoring of these transactions. We have developed a regulatory framework and introduced a new bill to regulate virtual assets. The bill has been submitted to Parliament and we hope to pass it by the end of December, at which time we will be able to regulate cryptocurrencies in Ghana." He said that Ghana, Africa's largest gold producer, is establishing a new department and cultivating relevant expertise to assist in regulatory work in this area.