The Central Bank of Ghana has ordered banks to stop supporting unauthorized foreign currency digital wallet services offered by crypto platforms.

PANews reported on June 16 that the Central Bank of Ghana has issued a mandatory directive requiring all regulated financial institutions to immediately cease supporting unauthorized foreign currency digital wallet services offered by cryptocurrency platforms. The Central Bank stated that several cryptocurrency platforms operating in Ghana offer digital wallet services denominated in foreign currencies (primarily US dollars), integrating with the local banking system through direct bank transfers, payment cards, and other channels. These cryptocurrency platforms are not authorized to conduct such activities. The Central Bank pointed out that such foreign currency digital wallets violate compliance requirements under the Payment Systems and Services Act 2019 and the Foreign Exchange Act 2006, and that the banking infrastructure supporting these services is illegal due to the lack of necessary approvals for the cryptocurrency platforms.