Regulation of Crypto industry will boost sector – Joshua Agyemang

Players in the cryptocurrency space are optimistic about future growth. They believe government regulation will help the digital asset industry expand.

Dr. Johnson Asiama, Governor of the Bank of Ghana (BoG), made an announcement. He stated that the BoG will start regulating cryptocurrency by September 2025. This regulation depends on passing the Virtual Asset Providers Act.

This new law will allow the BoG to license and regulate virtual asset platforms. Joshua Opoku Agyemang, President of IoT Network Hub & Ghana STEM Network, commented on this development. He believes regulation is overdue and will boost confidence in cryptocurrency.

Agyemang noted that the crypto community in Ghana has awaited this change for a long time. He highlighted Bitcoin's growth, now valued over $93,000. Countries that embraced cryptocurrency early have benefited significantly.

He expressed excitement about Ghana's decision to regulate cryptocurrency. Agyemang believes this step will foster industry growth and build trust among users. With government support, he thinks confidence in digital assets will increase significantly.