President John Dramani Mahama has signed the Virtual Asset Service Providers (VASP) Bill into law, following its recent passage by Parliament.
The development was announced by Mensah Thompson, Acting Deputy Director-General of the Securities and Exchange Commission, in a statement on his Facebook page on Tuesday, December 30.
The bill’s provisions include legalizing the use, trading, and provision of services related to virtual assets, such as cryptocurrencies.
“The SEC and the Bank of Ghana wishes to congratulate His Excellency the President, The Minister for Finance, the Governor of the Central Bank and the Director General of the SEC for their foresight in moving Ghana an inch closer towards the next phase of global finance and inclusion.
“Special thanks to VASP market operators including the big exchanges and traders who made immense contributions towards the bill and most important to the Chairman of the Finance Committee of Parliament the Hon Isaac Adongo for his enormous directions and support through out the legislation process.
“And lastly to the Minority in Parliament for lending a bi-partisan support for this bill and also to the incredible staff at the SEC and Bank of Ghana who worked day and night to produce this solid regulatory framework for the Country,” Mr Mensah Thompson said.
Meanwhile, SEC has indicated that all persons and entities seeking to operate in the sector must be licensed and regulated either by the Bank of Ghana or SEC based on their activities.
The statement added that SEC and the Bank of Ghana will issue guidelines and other regulatory instruments to operationalise the Act.
“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,” the statement said.
By: Rainbowradioonline.com/Ghana
