IMF urges Ghana to prepare crypto market rules by December 2026 — MyJoyOnline

The International Monetary Fund stated that the current recommendations and rules for cryptocurrency regulation in Ghana do not provide comprehensive market oversight. The fund recommended that the country’s authorities develop requirements for specific types of activities, including crypto trading, brokerage services, and lending.

Preparation for licensing

As MyJoyOnline reports, the IMF also urged the completion of rules concerning Special Contingent Accounts (SCA). In the fund’s view, the authorities should be prepared for licensing and supervision in order to ensure consumer protection, market integrity, and financial stability.

Ghana’s regulatory regime is planned to be launched in December 2026. The IMF considers it important to introduce a transitional regime, as some of the necessary guidance has yet to be prepared. The fund noted that, due to the size and dynamics of the country’s crypto market, many market participants may seek licenses.

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Requirements for market participants

The IMF stressed that some crypto entities may require dual regulation because of the existing institutional structure. In this regard, licensing procedures should produce comparable outcomes, and application forms should be tailored to the specific type of activity.

The fund also recommended aligning reporting requirements between the relevant authorities as much as possible. The IMF mission prepared licensing checklists, risk assessment tables, and reporting templates for crypto-asset service providers and SCA. According to the article, Ghana is the fifth-largest crypto market among sub-Saharan African countries: between 8% and 17% of the population had bought or sold cryptocurrency, while the annual transaction volume is estimated at approximately $21 billion.