Ghana's central bank demands financial institutions to stop supporting unauthorized cryptocurrency platforms for foreign currency wallets

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According to Bitcoin.com, the Central Bank of Ghana has issued a directive requiring regulated financial institutions to cease supporting unauthorized foreign currency digital wallet services provided by cryptocurrency platforms. The Central Bank of Ghana pointed out that cryptocurrency platforms are not authorized to provide digital wallet services denominated in foreign currencies, and related activities involve compliance requirements under the Payment Systems and Services Act 2019 and the Foreign Exchange Act 2006. Supporting such services by banks is illegal.

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