Ghana has officially passed the virtual asset regulatory bill, the Central Bank is advancing the encryption platform licensing system.

[Chain News] The Ghanaian Parliament recently approved a bill related to virtual assets, marking an important progress in the country's regulation of Crypto Assets. It is reported that the Central Bank of Ghana has been concerned about the disorderly use of local Crypto Assets, and the passage of this bill serves as a formal response.

The Governor of the Central Bank of Ghana, Johnson Asiedu Antwi, stated in the capital Accra that the implementation of the “Virtual Asset Service Provider Act” will promote a series of concrete actions – including the licensing system for Crypto Assets platforms and the establishment of corresponding regulatory frameworks. In other words, those previously uncontrolled Crypto Assets businesses will now be integrated into the formal sector.

This approach has actually become a global trend. More and more countries realize that rather than simply prohibiting, it is better to establish a clear regulatory framework that protects investors and regulates the market. Ghana's move may have a demonstration effect on the crypto assets ecosystem in the entire West African region.