Ghana has legalize the use of Bitcoin and crypto

[Hypnotizer]

Source

So yeah, Ghana has just pass a law that legalize the use of Bitcoin and crypto.  Ghana has now joined the league of African countries that have legalized the use of bitcoin and crypto.


African is coming

[fikrett]

They understood they may be too late to be in the game.

Also, everybody wants to regulate the flows of crypto and try to fight fraud in their own abilities.. It's still mostly about the control.

[Ronsbit]

Congratulations to Ghanians who are fully into crypto, as this is a win-win for them. This bill is similar to that of Nigeria, and it allows its nationals to trade bitcoin and also see it as an asset they could hold onto, and the law does not stop anyone from dealing in crypto anymore, but they have not legalized it to be a legal tender by any means.

Here's the link to the new,s as what OP presented is a link to X handle, which did not really give concrete information as to the adoption news.
https://cryptobriefing.com/ghana-legalizes-crypto-trading-regulation-framework/.

[Odusko]

First let me congratulate the entire Ghana cryptocurrency axist for having the freedom to now buy cryptocurrencies like Bitcoin, Ethereum USDT and the rest through their banks, and also for the government to identify that cryptocurrency usage is now legal in Ghana, this Will give alot of big positive boost to other crypto related projects, although we have to also note that the regulations is still there and it not as if cryptocurrency is now a legal tender in Ghana like the GHANA cedi, but still remain within the framework of regulations.

[Charles-Tim]

This is a good news, but it is worth knowing that crypto was not illegalized in Ghana before, people (individuals) and private institutions were allowed to trade bitcoin and other cryptocurrencies in Ghana before but there is no regulation for it as it will be this time around that it has been made legal.

They understood they may be too late to be in the game.

What I see is different, it is possible they want ways to tax cryptocurrencies effectively.

[PX-Z]

Great news, and congratulations to the community in Ghana! I wonder if there are any locals from Ghana here as well. This is another step forward, one step at a time, for countries that are moving toward Bitcoin adoption. Who knows, maybe more African nations will be next, or perhaps another country from the Americas. The EU, however, seems less likely at the moment to fully legalize Bitcoin or crypto due to existing EU policies.

[Dunamisx]

Source

So yeah, Ghana has just pass a law that legalize the use of Bitcoin and crypto.  Ghana has now joined the league of African countries that have legalized the use of bitcoin and crypto.


African is coming

Am so surprised because it been a long time that i heard about anything regarding bitcoin or crypto from Ghana in Africa, the most common one is from Nigeria and maybe few other selected countries, but Ghana coming this bold and strong shows that they have also been aware of the opportunities in bitcoin and how they could as well join the world in making it a great idea for their people in using cryptocurrency independently, this will definitely encourage for more adoption by its citizens because of fare regulations.

[Hewlet]

It's a good one that citizens of Ghana can freely transact and trade Thier bitcoin with any fear while doing it. Though it might not be entirely the case that prior to now no Ghana citizens have been using bitcoin. They've also been part of the bit players in the users of bitcoin in Africa but with this full adoption, it's going to lead to greater interest in bitcoin by the majority of Ghana youths and that's certainly a good one for bitcoin.

They understood they may be too late to be in the game.

What I see is different, it is possible they want ways to tax cryptocurrencies effectively.

That's actually true. While they have legalised it, from the statement shared, there's a part that suggest that they want to regulate it also and that's part of the challenge that is associated with bitcoin adoption by countries. They tend to accept it but at the same time look for means whereby they can also regulate or tax it.

[bettercrypto]

Source

So yeah, Ghana has just pass a law that legalize the use of Bitcoin and crypto.  Ghana has now joined the league of African countries that have legalized the use of bitcoin and crypto.


African is coming

This is a great step taken by Ghana. Most likely, the majority of their community is aware of the advantages that cryptocurrency or Bitcoin has. This can truly be considered proof that the brighter future of this industry cannot be stopped.

It's just frustrating because I wish our government here was just as open-minded. Unfortunately, it's the opposite in our local community instead, it feels like we're the ones being harassed by the agency because they want us to focus on using our local exchange, which the majority don't actually prefer.

[nemesis_incarnate]

They understood they may be too late to be in the game.

What I see is different, it is possible they want ways to tax cryptocurrencies effectively.

That's also another way of interest for them.

Taxes are their blood - and they just  see a new vein not leading to themselves. They want to see it in a different light, going back to them.

[purple_sparkles]

When I see news that some country has legalized cryptocurrency, to me it simply means that the authorities have decided to reach deeper into their citizens’ pockets and collect more money by inventing a new tax on something that’s convenient to tax. And it’s presented as a great achievement for the country’s economy, while in reality it’s just ordinary money-grabbing.

[hero_the_bossman]

When I see news that some country has legalized cryptocurrency, to me it simply means that the authorities have decided to reach deeper into their citizens’ pockets and collect more money by inventing a new tax on something that’s convenient to tax. And it’s presented as a great achievement for the country’s economy, while in reality it’s just ordinary money-grabbing.

I do think it's that, as well as a part any country interested in crypto would go through.

Regulations is their bread and butter. They live by them. And they will die by them.

[macson]

Better late than never. That's a fitting statement for the Ghanaian government, as they previously lacked regulations governing Bitcoin and cryptocurrency transactions and trading in their country. Now, they have clear regulations in place, meaning that all activities related to Bitcoin and cryptocurrency are no longer illegal, and millions of users no longer need to worry about getting into trouble when dealing with crypto.

This also allows the Ghanaian government to collect taxes from crypto activities through licensing, crypto transactions, and various other means. This directly benefits both users and the government.

Hopefully, this regulation will continue to evolve, encompassing broader issues, such as strategic reserve arrangements.

[Hyphen(-)]

Here's the link to the new,s as what OP presented is a link to X handle, which did not really give concrete information as to the adoption news.
https://cryptobriefing.com/ghana-legalizes-crypto-trading-regulation-framework/.

This is good news for Ghanaians and the crypto world in general because the more governments legalize Bitcoin in some countries, the more adoption increases because some citizens only do what is legal in their country and leave everything that the government didn't legalize in their country to avoid facing the law.

My primary concern is about the knowledge and awareness about Bitcoin; I know they have crypto enthusiasts, but with the rate at which other countries like Nigeria in Africa are participating in cryptocurrency, I haven't heard anything from Ghana. I think they will need learn about Bitcoin and cryptocurrency well before they start in masses.
Furthermore, I see this legalization as a means of getting more income in the form of taxes for the government.

[Sticky Bomb]

They understood they may be too late to be in the game.

Also, everybody wants to regulate the flows of crypto and try to fight fraud in their own abilities.. It's still mostly about the control.

You may think they are late to the game, but they are quite on time and the government is ready to face reality which is crypto being the future of money and they are finally ready to get their share of the spoils in form of taxes while providing a clear regulation pathway for it.

Yes they want to control it and I mean what is a government without exerting control? I am particularly happy that they've stepped up their game, this would allow for more crypto adoption within the country. They're surely a step ahead of others who are yet to adopt in their financial activities

[Catenaccio]

You may think they are late to the game, but they are quite on time and the government is ready to face reality which is crypto being the future of money and they are finally ready to get their share of the spoils in form of taxes while providing a clear regulation pathway for it.

Yes they want to control it and I mean what is a government without exerting control? I am particularly happy that they've stepped up their game, this would allow for more crypto adoption within the country. They're surely a step ahead of others who are yet to adopt in their financial activities

It's never late to join the game but I'd like to consider it as a national governance revolution than a game. With blockchain technology, governments can do many cumbersome tasks more easily and no longer have challenge from storing data safely with time. With blockchains, what recorded in blocks will not be erased how many years later if that blockchain does not die and disappear.

Governments are interested in this industry and this potential market and they are developing their CBDCs for launches and applications in their nations. CBDCs will be perfect tools for governments to control many financial things on their citizens. With public or private blockchains, it's harder for governments having control, so in long term they will try to force citizens using CBDCs.

Some world maps for Bitcoiners with CBDCs map.

[sokani]

They understood they may be too late to be in the game.

What I see is different, it is possible they want ways to tax cryptocurrencies effectively.

That is the Ghanaian government's objective. Following the passage of the Virtual Assets Service Providers (VASP) bill into law, both local and global exchanges will be required to pay huge amounts in license fees for operation, and the citizens will also be taxed for trading on these exchanges. It's another way for the government to generate money for the economy.

[Lucius]

~snip~
The EU, however, seems less likely at the moment to fully legalize Bitcoin or crypto due to existing EU policies.

It makes no sense to talk about the EU as a whole, given that each member state has its own laws when it comes to cryptocurrencies. As far as I know, Bitcoin is not banned in any EU member state in any sense, and some member states even have 0% tax if the cryptocurrency is sold after 1, 2 or 3 years after purchase. Accordingly, in most EU countries, cryptocurrencies have a very good environment to prosper.

[Phu Juck]

It's a good step from Ghana to legalize Bitcoin and Crypto because such digital currencies can help a lot for poor nations and poor people to generate an income from Bitcoin and Crypto HODL. For people who know how Bitcoin works it is a big step to make a profit from HODL Bitcoin.

[Rikafip]

does anyone actually think ghana legalizing it will lead to more adoption or is it just a way for the government to start collecting taxes?

It is logical to assume that making something legal will increase adoption, but rest assured, governments will want their piece of cake.