The Financial institution of Ghana has directed banks, specialised depository establishments, e-money issuers, cost service suppliers and different regulated monetary establishments to chorus from establishing or sustaining preparations that facilitate the financing, operation, settlement or buyer entry to unauthorized fiat pockets providers offered to customers in Ghana.
This follows considerations relating to the operation by sure crypto platforms for customers in Ghana of fiat pockets preparations denominated in foreign currency, primarily US {dollars}, supported by financial institution transfers, cost playing cards, and different cost channels offered by some regulated monetary establishments.
These preparations usually contain actions that require authorization underneath the Fee Techniques and Companies Act 2019 (Act 987), the Overseas Trade Act 2006 (Act 723), and different regulatory necessities.
The central financial institution mentioned in an announcement that the crypto platforms concerned weren’t approved to hold out such actions.
“Establishments that presently present banking, cost, card acquisition, clearing, or associated providers to assist such preparations ought to take instant steps to discontinue such assist,” it really useful.
It concluded that non-compliance with this Directive might lead to supervisory and enforcement measures being taken.
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