Ghana’s Securities Regulator Creates Taskforce to Build Capacity for Crypto Asset Oversight

The Ghanaian securities regulator has established a task unit which is expected to assistance it boost its capableness to modulate crypto assets. Ghanaian residents person continued to commercialized and put successful cryptocurrencies and this has forced the regulator to deliberation of ways to support crypto users.

Gaining Crypto Asset Owners’ Confidence

According to Daniel Ogbamey-Tetteh, the Director General of the Ghanaian Securities and Exchange Commission, the committee has established a task unit to assistance it physique its capableness to oversee and modulate crypto assets. The constitution of the task unit is successful enactment with the International Organization of Securities Commissions (IOSCO)’s telephone connected members to instrumentality steps to support integer plus consumers.

Ogbamey-Tetteh made these remarks astatine an lawsuit marking the commission’s 25th anniversary. As per a report by BFT Online, the Ghanaian regulator has besides been moving connected boosting superior and crypto plus owners’ assurance successful the commission.

Interestingly, the SEC done its lawman manager general, has antecedently advised Ghanaian residents to enactment distant from crypto assets due to the fact that they are not regulated by the commission. However, contempt this admonishment, Ghanaian residents person continued to commercialized and put successful cryptocurrencies, forcing the regulator to deliberation of ways to support crypto users.

SEC Implementing a Digitalization Program

To execute this, the Director General revealed that the SEC is prioritizing processing quality superior and the digitalization program. He said:

We are investing successful processing the quality superior of SEC arsenic good arsenic implementing a digitalization program. We person started implementing a Risk-Based Supervision model arsenic we question to migrate from the compliance-based supervision mode.

Ogbamey-Tetteh added that his organization’s pursuit of regulatory exertion (regtech) and supervisory exertion (suptech) solutions is an effort to onslaught a equilibrium betwixt supporting fiscal innovation and maintaining marketplace integrity and stability.

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