Ghana: Regulation and Supervision of Crypto Markets and Activities

This document summarizes a technical assistance (TA) mission to Ghana at the request of the Central Bank of Ghana and involving the Securities and Exchange Commission. The TA focused on the regulation and supervision of crypto markets and activities including stablecoins. The mission found that prudential and conduct regulations are directionally aligned with global standards and recommendations, but further work is needed for full alignment including the development of key Guidelines and closing gaps in existing Guidelines. Licensing and supervision will provide further challenges given tight timeframes for implementing regulation and the large size of Ghana’s crypto markets. The mission has developed licensing check lists, risk assessment tables, and reporting templates for crypto entities.