Operators of digital currencies in Ghana have impressed upon the Bank of Ghana to expedite processes of completing new regulations on electronic financial payments to legalise their operations.
They argue that the impact of digital currencies across the globe should warrant its operation in Ghana.
The Bank of Ghana has cautioned the public against transacting any business in digital currencies such as Bitcoin as such operations are not licensed.
However the Director of Business Development at FinchCoin Ghana Limited, William Asamoah Junior tells Citi Business News the regulation should sanitise the use of the digital currencies.
“It is a product with a financial platform. At the end of the day you will pay money to buy the product so it is definitely BoG that has to regulate it and to a certain extent SEC may also come in” he said.
He added that “What BoG has to do is to educate itself very quickly and understand the benefits of this program and make sure it sees how best Ghana can benefit from the advantages of cryptocurrency”.
“At the moment we have about 1,500 cryptocurrencies globally and these have a market capitalization in the excess of 70billion dollars” he noted.
He spoke to Citi Business News at the official launch of the company’s commencement to trade digital currencies in Accra.
Finchcoin Ghana limited is a wholly owned Ghanaian entity.
Its activities is based on a new innovative and classic technology called the Blockchain.
Operators of Finchcoin hope to expand its activities to cover the value chain of cryptocurrencies including a crypto bank, crypto bond, crypto exchange, and crypto mining, among others.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana