Accra: Bank of Ghana Governor Dr. Johnson Asiama has emphasized that Ghana can no longer afford to overlook cryptocurrency and virtual assets as the digital finance sector experiences ongoing growth. In his remarks during the final episode of the Monetary Policy Committee (MPC) Educational Observership Programme, Dr. Asiama stressed the urgent need for Ghana to cultivate the expertise and establish a regulatory framework to effectively manage the burgeoning crypto sector.
According to Ghana Web, Dr. Asiama highlighted that cryptocurrencies continue to gain traction regardless of whether they are acknowledged or not. He pointed out the importance of regulators understanding the sector to supervise it effectively. The Governor asserted that the Bank of Ghana must develop the necessary legal framework and expertise to regulate virtual assets and ensure user protection.
Dr. Asiama revealed that while the law governing virtual assets is already in place, guidelines are still being developed to support the licensing of platforms operating in this sector. Despite acknowledging the risks associated with virtual assets, he maintained that regulation is imperative due to the increasing use of crypto in Ghana.
Furthermore, Dr. Asiama identified fintech as another area with a rising demand for skilled professionals. He urged young people to develop expertise in technology and financial innovation as Ghana's financial sector continues to evolve, highlighting the need for the country to adapt to these changes to remain competitive in the digital age.