The government has restated its prohibition on the use of cryptocurrencies in all transactions, stating that all financial institutions in the nation have been instructed not to engage in cryptocurrency transactions.
Dr. Mohammed Amin Adam, Minister of State in the Finance Ministry, made the remark while answering questions on the floor of Parliament.
“As we investigate the construction of a framework, the government will continue to enable linked technologies such as blockchain and distributed innovations in a sun box.” “Until such a framework is in place, the government would like to reiterate its directive conveyed in several notices, including one issued on March 9, 2022, that all institutions licenced by the Bank of Ghana are prohibited from facilitating cryptocurrency transactions through their platforms or agent outlets,” the Finance Ministry’s Minister of State warned.
The Central Bank issued warning advice to banks and other financial organisations in April 2022 regarding their dealings with cryptocurrency trade and other unregulated investment schemes.
The move was to sanitize the digital space with respect to cryptocurrency.
