Samson Mow Advocates for Increased Bitcoin Holdings

Market's volatility and volume profiles are not showing disruption, but things might change as the holidays continue.

The post Ghana finalizes crypto bill; Kenya advances VASP law appeared on BitcoinEthereumNews.com. Homepage > News > Business > Ghana finalizes crypto bill; Kenya advances VASP law Ghana has become the latest African country to draft a comprehensive framework for the digital asset industry, with the country’s central bank sending the new draft bill to parliament. Meanwhile, in Kenya, a Virtual Asset Service Providers (VASP) Bill that grants regulatory authority to the central bank and the capital markets watchdog was given the nod at the committee stage in the National Assembly. Ghana’s new law targets burgeoning ‘crypto’ sector The Bank of Ghana (BOG) recently announced that it has completed drafting a new virtual assets bill and will hand it over to parliament for consideration. The central bank has been working on the bill for a few years, local media outlets report. It has collaborated with the anti-money laundering (AML) watchdog, known as the Financial Intelligence Centre (FIC), and the Securities and Exchange Commission (SEC) to address concerns such as market integrity, Know Your Customer (KYC) programs, and AML practices. Additionally, the bank has worked with industry experts and lobby groups, government institutions, legal and technology experts, and international partners, including the International Monetary Fund (IMF). BOG intends to continue collecting feedback from the rapidly expanding ‘crypto’ industry and has already planned national engagement sessions with the public. It will also lead awareness campaigns, which Governor Johnson Asiama has previously said is critical to the success of the new framework. In its statement, the regulator reiterated its commitment to promoting “a safe, transparent, and innovative virtual asset ecosystem that protects users, encourages responsible innovation, and safeguards the integrity of the financial system.” The top bank has already started laying the groundwork for the new framework. A few months back, it launched a mandatory registration exercise for VASPs operating in Ghana, from exchanges and wallets…

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