Ghana Crypto Sandbox: SEC Kicks Off 12‑Month Regulated Trading Pilot

Ghana’s recently launched regulatory and innovation sandbox is the latest proof of the central bank’s commitment to a regulatory environment that promotes “innovation, financial inclusion and financial stability,” a statement released by the Bank of Ghana has said. According to the central bank, innovations that are eligible for inclusion in the sandbox include digital financial service technology which is deemed to be new or “immature.” Fostering ‘Innovation and Financial Stability’ The Ghanaian central bank has touted the recently....

Ghana is one of the few African countries that is hopping on the cryptocurrency train. The country is particularly taking concrete steps towards embracing this innovation. During the Fifth Ghana International Trade and Finance Conference in Accra, The Vice President of Ghana – Dr. Mahamudu Bawumia – said that African governments should embrace virtual currencies. […]

The Bank of Ghana (BOG) says it has signed an agreement with Giesecke Devrient (GD) to implement a pilot central bank digital currency (CBDC) project. This pilot CBDC, which is a precursor to the e-cedi digital currency, is set to be tested with banks, payment service providers, merchants, consumers and other relevant stakeholders. Learning From the Trial Phase In a press release, the Ghanaian central bank says GD will provide the technology and a solution that suits Ghana’s requirements. The press statement adds that during the trial phase, a study seeking to look at “the....

Following the regulatory sandbox approval by Canadian regulators, Wealthsimple announced that it has launched “Canada’s first regulated crypto platform.” The new crypto exchange is regulated by the federal government as well as regulators in 13 provinces and territories in Canada. Wealthsimple Crypto Regulated in All Provinces and Territories in Canada Canadian investment management firm Wealthsimple announced Tuesday that its cryptocurrency exchange has launched. The company explained that Wealthsimple Crypto is “Canada’s first regulated crypto....

Ghana is striving to become the first African nation to float a central bank digital currency. The Bank of Ghana (BoG) is reportedly moving towards the introduction of a central bank digital currency (CBDC) experiment.Speaking during a news conference in Ghana’s capital, Accra, on Monday, Ernest Addison, governor of the country’s central bank revealed that the BoG was in the advanced stages of creating a CBDC.As part of his address, Addison said that the planned e-cedi will pass through developmental and evaluation phases before a decision will be made on a national rollout.According to....