The Bank of Ghana has issued a directive prohibiting banks, payment service providers, and regulated financial institutions from supporting fiat USD wallet services operated by certain crypto platforms in the country.
In a notice signed by Ms. Aimee Vyda Quashie, Secretary to the Bank, the central bank cautioned that such arrangements, which allow users to hold wallets denominated in foreign currencies — particularly United States Dollars — have not been authorized.
The Bank warned that institutions found facilitating these services risk facing supervisory or enforcement actions.
“These arrangements have not been authorized by the Bank of Ghana. Banks and regulated financial institutions are therefore directed to refrain from supporting such activities,” the notice stated.
The directive, issued under Notice No. BG/GOV/SEC/2026/14, underscores the regulator’s stance on safeguarding Ghana’s financial system against unauthorized practices linked to cryptocurrency platforms.
The Bank of Ghana further advised institutions and the general public to seek clarification through its technical support channels, including the dedicated email address provided for virtual asset service providers.
This move forms part of the central bank’s broader efforts to strengthen oversight of the financial sector and ensure compliance with existing regulations.
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