Ghana Central Bank Orders Banks to Halt Support for Unauthorized Crypto Platform Wallet Services

According to Bitcoin.com, Ghana's central bank issued a directive requiring all regulated financial institutions to immediately cease supporting unauthorized foreign currency digital wallet services provided by cryptocurrency platforms. The central bank stated that crypto platforms operating in Ghana offer digital wallets denominated in foreign currencies, primarily U.S. dollars, integrated with local banking systems through direct transfers and payment cards. These platforms lack authorization for such activities. The directive, which took effect immediately, applies to banks, deposit-taking institutions, electronic money issuers, and payment service providers. Financial institutions are prohibited from establishing or maintaining any arrangements that support these unauthorized foreign currency wallet systems. Non-compliance may result in regulatory or enforcement action.
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