Key Takeaways:
On June 12, the Bank of Ghana ordered local banks to halt support for unapproved crypto USD wallets.Over 2 pieces of legislation, including a 2019 Act, make these platform-led fiat operations illegal.Defiant institutions face immediate regulatory action, while compliant desks handle 2026 registration inquiries.Effective immediately, the directive applies to banks, specialized deposit-taking institutions, electronic money issuers and payment service providers. They are strictly prohibited from establishing or maintaining any arrangements that facilitate the funding, operation and settlement of these unauthorized fiat wallet systems.
“Institutions that currently provide any banking, payment, card acquiring, settlement, or related services in support of such arrangements shall take immediate steps to discontinue such support,” the central bank warned.
For businesses looking to align with national registration guidelines or seeking technical clarity on compliance, the central bank has designated a dedicated inquiry channel through its virtual asset desk.
