Persons or entities conducting virtual asset activities must be licensed & registered by SEC, BOG – SEC

The Securities and Exchange Commission, Ghana, has stated that persons and entities conducting virtual asset activities will need to be licensed or officially registered by the SEC or the Bank of Ghana.

This was contained in a statement issued by the SEC following the passage of the Virtual Asset Service Providers (VASPs) Bill.

The SEC indicated that the regulatory authorities are the Bank of Ghana, the Securities and Exchange Commission, and any other regulatory body prescribed by the Minister of Finance.

It announced that the SEC and the Bank of Ghana will issue guidelines and other regulatory instruments to operationalize the Act.

The SEC assured the public that it will ensure a safe, efficient, and transparent virtual ecosystem.

“The SEC assures the general and investing public of its continued diligence and unwavering commitment to fostering a safe, efficient, fair, and transparent virtual asset ecosystem in which investors are protected, and market integrity is upheld.”

It added “For the avoidance of doubt, the SEC shall license and regulate the following Virtual Asset Services under the Act.

1. Virtual Asset Exchanges
2. Virtual Asset Trading Platforms
3. Virtual Asset Issuance
4. Virtual Asset Tokenization
5. Virtual Asset Exchange Traded Funds (ETFs)
6. Virtual Asset Managers
7. Virtual Asset Investment Advisor
8. Virtual Asset Brokerage
9. Virtual Asset Advocacy (On Securities)
10. Virtual Asset Mining and Validation (On Securities)
11. Virtual Asset Sandbox (On Securities)

By: Rainbowradioonline.com/Ghana