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.
“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. 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.
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 goal was to clean up the digital realm in terms of bitcoin.
Source: citinewsroom.com
