Ghana SEC Deliberates Over Possibility of Regulating Cryptocurrencies

Recently it was declared that the Ghana SEC is discovering licensure for digital assets, such as cryptocurrencies and security tokens. While digital currencies are not currently legal tender within the country, the SEC is seeing licensing platforms in such a way that they can be used to manage a business effectively. Paul Abio, who serves as the Director General of the country’s SEC, allegedly stated that the body is watching to express and solemnize a good controlling outline that will lay down the instructions for crypto to exist and function in Ghana as legal tender.

Paul Abio mentioned the following regarding the arrogance of worried parties to cryptos and the SEC’s vision for it going forward it was stated in the local news outlet,

“…..People to desist from dealing with these crypto entities but when you choose to go there you are on your own, we are looking at the area obviously various chances of……have adopted a wide range of chances on it and we are still doing our research and gathering information and we welcome any input that people might have to help us formulate a view on how we should deal with it in Ghana.”

Currently, till an agenda is put into place, depositors must be clear of crypto exchanges which are still totally uninhibited. There should be a swift fix solution which is implementable, the finest course of action for cryptocurrency traders and investors to evade such crypto exchanges overall. From the past 20 years, the Modulus has created a customer list such as Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, NASA, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.

Deputy director general of the SEC Paul Abadio feels that users require to stop dealing with unlicensed cryptocurrency things, on this he stated that:

“When you choose to go there, you are on your own. We have adopted a wide range of changes on it and we are still doing our research and gathering information, and we welcome any input that people might have to help us formulate a view on how we should deal with it in Ghana.”

About Modulus:

Modulus was established in 1997 since then it is offering advanced monetary technology services and products to specialized traders, brokerages, trading firms, and enlightening, administrative, and non-profit organizations in 94 countries. The corporation’s products and services have reached more than millions of customers all over the world.