Tag: Bitcoin
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Africans urged to bolster adoption of Bitcoins
Stakeholders within the Africa digital trading sector are pushing for the strategic use of Bit coins on the continent. This according to the players will give users a trading avenue which is not directly impacted by the global high inflationary rates currently confronting countries. Speaking during the maiden edition of the African Bitcoin Conference in…
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‘Mybitstore’ launches first peer-to-peer bitcoin trading app in Ghana
A Ghanaian tech developer Benjamin Anderson has introduced an application that enables cryptocurrency traders across the world to trade using its secured escrow system. The app, Mybitstore, provides a platform for the buying, selling, receiving and conversion of bitcoin to mobile money and vice versa. It also allows users to convert unused gift cards to…
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U.K. Floats Open-Ended Irish Veto to Break Brexit Impasse
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Cryptocurrency: Advocates push for swift laws by BoG
Cryptocurrency analysts are urging the Bank of Ghana to expedite processes to formulate laws to regulate their business. They want the regulator to step in to avert a possible controversy between it and patrons of the product. The increasing interest in the use of cryptocurrency has been met with mixed reactions considering the complex nature…
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Bitcoins, Altcoins, Ponzi Schemes (Article)
Virtual Currency: An unregulated digital currency that can be used as a substitute for real and legally recognized currency. Convertible Virtual Currency usually has a measurable value in real money, but what makes it convertible lies in its ability to be exchangeable. Not all virtual currency can be exchanged for legal tender though, therefore, not…
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BoG unfazed by digital currency inroads in Ghana
The Bank of Ghana is confident it should be able to regulate activities on the use of digital currencies in Ghana, with the passage of the new laws on electronic financial payments in Ghana. The renewed optimism follows the launch of Finchcoin, the first Ghanaian manufactured digital currency. Already, the central bank has cautioned the…
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Cryptocurrency users unfazed by BoG’s caution
Some cryptocurrency operators have welcomed the Bank of Ghana’s stance on the use of digital currencies saying it will protect users from fraud. The Co-Founder of Crypto Ghana, Bernard Owusu Mensah explains that the announcement will however least affect organisations like his that engage in the trading of digital currencies. The Bank of Ghana has…
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Digital currencies not licensed in Ghana – BoG
The Bank of Ghana has cautioned the public against transacting business with digital currencies such as Bitcoin, in Ghana. According to the Central Bank, it has not licensed the activities in digital currency under the Payments System Act 2003. “The Bank of Ghana wishes to notify the general public that these activities in digital currency…