Ghana: BoG Warns Financial Institutions Against Unauthorised Foreign Currency Platforms

Ghana: BoG Warns Financial Institutions Against Unauthorised Foreign Currency Platforms

The Bank of Ghana (BoG) has directed all regulated financial institutions to immediately discontinue any arrangements that support unauthorised foreign currency wallet services being offered by some crypto currency platforms to users in Ghana.

Bank Of Ghana Draws A Line On Crypto-Linked Dollar Wallets As Regulators Tighten Oversight

Ghana’s latest warning to crypto platforms underscores a growing battle over control of dollar-denominated financial services rather than a direct challenge to digital assets themselves. The Bank of Ghana has instructed banks, payment service providers, electronic money issuers, and other regulated institutions to stop facilitating foreign-currency wallet services offered by crypto platforms that lack regulatory approval. At the center of the di…

BoG blacklists crypto dollar wallets, orders banks to cut ties with unauthorized platforms

The Bank of Ghana (BoG) has intensified its oversight of the country’s rapidly growing digital finance sector by directing banks and other regulated financial institutions to immediately stop facilitating unauthorised foreign currency wallet services being offered by cryptocurrency platforms to customers in Ghana. The directive marks the latest move by the central bank to tighten control over emerging digital financial services as it works to ba…

Ghana Central Bank Orders Banks To Stop Supporting Unauthorized Crypto Wallet Services

Ghana's central bank has ordered banks and payment providers to stop enabling unauthorized foreign-currency digital wallet services linked to crypto platforms. Here's what the directive means for banks, users, and crypto access in Ghana.Read more...

PRESS RELEASE | Crypto Platforms Are ‘Not Authorised to Support Fiat-USD Wallet Services for Users in Ghana,’ Warns Bank of Ghana

The Bank of Ghana has noted with concern the operation of fiat currency wallet arrangements, denominated in foreign currencies, mainly United States Dollars (USD), by certain crypto platforms for users in Ghana, supported through bank transfers, payment cards, and other payment channels provided by some Regulated Financial Institutions. These arrangements typically involve activities that require authorisation under the Payment Systems and Serv…

Bank of Ghana Orders Banks to Halt Crypto Dollar Wallets as Enforcement Risks Rise

The Bank of Ghana has issued a mandatory directive ordering all regulated financial institutions to immediately stop supporting unauthorized foreign currency digital wallets offered by cryptocurrency platforms. Breach of National Financial Laws The Bank of Ghana has issued a directive ordering regulated financial institutions to immediately halt operations that support unauthorized foreign currency wallet services […]