Ghana passes law to regulate crypto and its service providers

Parliament’s approval of the Virtual Asset Service Providers Bill gives regulators legal authority over crypto activities, ending years of policy ambiguity.
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Parliament’s approval of the Virtual Asset Service Providers Bill gives regulators legal authority over crypto activities, ending years of policy ambiguity.

The new rules establish a licensing regime for VASPs and bring them under the purview of BAM and AMMC

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According the IMF, these countries have lost significant sums of money as a result of being grey listed by the FATF

The bill has scrapped the creation of a new agency, VARA, and has instead placed VASPs under the CMA and CBK’s regulatory oversight.

At a Mariblock webinar last week, tax and digital asset experts said the new laws mark a turning point for the sector’s legitimacy.