Tag: digital currency
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Bank of Ghana commences piloting of digital currency in Sefwi Asafo
The Bank of Ghana has started piloting the first digital currency known as the ‘e-Cedi’ in the Western North region of the country. The move is part of efforts to determine its feasibility and subsequent circulation as well as the Bank’s commitment to enhance the use of digital financial services in the country. Also, the…
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Piloting of digital currency in Ghana to begin in September 2021 – BoG
Ghana is set to commence the piloting of its electronic currency by September this year. This was disclosed by the First Deputy Governor of the Bank of Ghana, Maxwell Opoku-Afari. According to him, the introduction of the Central Bank’s Digital Currency (CBDC) is crucial as the pandemic has quickened the drive towards a cash-lite economy…
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Bank of Ghana still working to introduce digital currency – Deputy Governor
Plans are far advanced for the Bank of Ghana to introduce a digital currency, according to a Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi. Last month, the central bank announced plans to start a three-phased pilot of the currency to determine its feasibility and subsequent circulation. Speaking to the media at a…
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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…