Ghana’s SEC sets up committee on crypto regulations

The SEC’s Director-General said that the Commission formed the task force to help it develop the capacity to regulate crypto assets.

Ghana’s SEC sets up committee on crypto regulations
Photo by Ifeoluwa A. / Unsplash | Design by Ifeoluwa Awowoye for Mariblock.

The Ghanaian Securities and Exchange Commission (SEC) has announced its intention to develop regulations for cryptocurrency.

In pursuit of this goal, the SEC has initiated a task force to assist in building expertise and understanding of cryptocurrency. 

The details 

  • The commission’s director-general, Daniel Ogbamey-Tetteh, announced this development at the Ghana capital market’s 2023 conference, which also doubled as its 25th anniversary. 
  • According to Ogbamey-Tetteh, the commission is keeping in line with directives from the International Organization of Securities Commissions (IOSCO), to which Ghana’s SEC is a signatory. 
  • He said that the international organization for securities regulators in countries around the world encouraged its members to stay on top of crypto assets to protect investors. 
  • Ogbamey-Tetteh added that the SEC formed the task force to help it develop the capacity to regulate crypto assets. 
  • He did not reveal the identities of the task force members, nor did he give a specific scope of the work they have been tasked to do. 

Key quote 

  • He said: 
“We are in the era of digital assets – and taking a cue from IOSCO who are encouraging its members to incorporate frameworks in their respective regulations to oversee the activities of digital/crypto assets in order to minimize potential harm to investors, we have commissioned a task force to assist the Commission acquire requisite capacity in that space.” 

Why this matters 

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