Government has warned all financial institutions in the country to abstain from conducting cryptocurrency transactions.Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam, made the declaration while responding to inquiries on the floor of Parliament.“The government will continue to allow associated technologies, such as blockchain and distributed innovations in a sun box, as we explore the development of a framework.

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Until such a framework is in place, the government will like to reiterate its directive conveyed in several notices, including one issued on March 9, 2022, that all institutions licensed by the Bank of Ghana are prohibited from facilitating cryptocurrency transactions through their platforms or agents outlets,” the Minister of State at the Finance Ministry cautioned.

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In April 2022, the Central Bank issued cautionary directives to banks and financial entities regarding cryptocurrency trading and unregulated investment schemes. The objective was to ensure the regulation and purification of the digital space concerning cryptocurrencies.

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