BoG urges digital asset businesses to build compliance into operations at Digital Assets Summit Africa

The Bank of Ghana (BoG) has called on digital asset businesses to incorporate regulatory compliance into their operations from the beginning, rather than waiting for regulators to intervene. Speaking at the Digital Assets Summit Africa, the Head of Fintech and Innovation at the Bank of Ghana, Elhanan Owureku Asare, emphasized the importance of transparency, responsible marketing, and customer asset protection.

As the digital asset sector rapidly evolves, this approach addresses regulatory and consumer protection concerns, urging industry participants and regulators to collaborate. Ghana is strengthening its regulatory framework for virtual assets following the passing of the Virtual Assets Providers Bill in December. The summit, organized by Promark Elite Limited, highlights the significance of the bill as a key development since the previous edition of the event.

This collaborative approach between industry stakeholders and regulators, such as the Bank of Ghana and the Securities and Exchange Commission, helps sustain discussions on digital asset development and regulation. The second edition of the summit has garnered significant interest, leading to the closure of registration due to the high number of participants.

The summit aims to provide opportunities for startups and small businesses with innovative ideas, offering them access to capital and support beyond the digital assets conversation.