The Bank of Ghana (BoG) has introduced draft regulations aimed at establishing a comprehensive framework for Ghana's digital asset sector. Announced on August 16, 2024, the proposed guidelines are designed to foster financial inclusion, ensure economic stability, and provide protection for consumers in the rapidly evolving cryptocurrency market. The draft regulations come after an extensive internal review of cryptocurrencies such as Bitcoin and Tether (USDT) and reflect the growing interest in digital assets among Ghana's increasingly tech-savvy population. The central bank's analysis revealed that the rise in digital asset usage is driven by factors including widespread internet access and the emergence of Virtual Asset Service Providers (VASPs). While the BoG acknowledges that crypto transactions remain relatively insignificant compared to traditional financial channels, the increasing adoption of digital assets for purposes like cross-border payments, crowdfunding, and remittances has prompted the need for regulatory clarity.