Central Bank of Ghana Governor: Ghana is finalizing regulatory framework for cryptocurrency trading

On July 15, according to Bloomberg, Johnson Asiama, governor of the Central Bank of Ghana, said that Ghana is developing a plan to hedge the price of gold exports, aiming to protect export revenues that drive the growth of the central bank's foreign exchange reserves from future price fluctuations. In addition, Asiama said that Ghana is finalizing a regulatory framework for cryptocurrency transactions in order to bring exchanges and other digital asset platforms under formal regulation. He said: "In fact, cryptocurrency has a great impact in Ghana. We can turn a blind eye, but the reality is that it is having an impact." He said that regulation will enable the central bank to bring virtual currencies under the supervision of its anti-money laundering and counter-terrorist financing rules, and ensure that digital innovation supports rather than undermines foreign exchange controls and monetary stability. [PANews]