Ghana has legalize the use of Bitcoin and crypto

[Hypnotizer]

....

The target has always been through exchanges, Not everyone understands the idea of self custody and most likely many out of excitement and legalization might not bother doing further research on how to be their own bank. It's worth celebrating I won't dispute that just like my own country we haven't made any official statement about Bitcoin being legalized but majority of bitcoin holders here use CEX and it's calls for serious concern.

For sure..with legalization like this there must surely be regulations about compliance with AML and KYC requirements for centralized exchange but this wouldn’t kill the idea of bitcoin being decentralized because there will be a party that will still hold their coin without involving centralized exchanges. Well actually you can’t tell someone not to use CEX..they’ll use what they find “easy” to understand..you know most people have that mentality of trusting someone with their finances  and they aren’t really wanting to break from that system.

With more Legalization comes more regulation, so this best thing to do is use your coins whatever way you think is best, you’re free.

[Uhwuchukwu53]

Will i conclude that Ghana government performance is far ahead of most African countries, that is what good leadership entails saying things to be futuristic and acting speedily. I see as best news as it will be a motivation for individual venturing into Bitcoin to be assured that more safety is involved because anything back by government citizens are always confidence and comfortable with it especially when it's coming from government with good policy where the citizens has already built trust upon.

[AbuBhakar]

For sure..with legalization like this there must surely be regulations about compliance with AML and KYC requirements for centralized exchange but this wouldn’t kill the idea of bitcoin being decentralized because there will be a party that will still hold their coin without involving centralized exchanges. Well actually you can’t tell someone not to use CEX..they’ll use what they find “easy” to understand..you know most people have that mentality of trusting someone with their finances  and they aren’t really wanting to break from that system.

With more Legalization comes more regulation, so this best thing to do is use your coins whatever way you think is best, you’re free.

You're right, it's really up to the person whether they use centralized or decentralized. Adoption will only be better in this country, where it's legal, because more people will be able to buy it, and how they store it is up to them. The important thing is that more people will be able to use it in their country, more people will use or buy it, more people will also have it, and that's where the price will increase even more.

Will i conclude that Ghana government performance is far ahead of most African countries, that is what good leadership entails saying things to be futuristic and acting speedily. I see as best news as it will be a motivation for individual venturing into Bitcoin to be assured that more safety is involved because anything back by government citizens are always confidence and comfortable with it especially when it's coming from government with good policy where the citizens has already built trust upon.

You are lucky because your country is peaceful and they trust the government. But not all countries are like that. Some prefer to steal rather than provide services and make laws that would help the people. So once it is approved by them, they will find a loophole in how they will make money.

[Mame89]

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

Although Ghana hasn't legalized Bitcoin as a legal means of transaction the current law legalizing Bitcoin and crypto as community assets is a significant step forward. Ghana's legalization of Bitcoin and crypto trading is a major victory for crypto and the African continent.

So, I want to extend my heartfelt congratulations to Ghana. This is an opportunity for future generations in Ghana to compete globally in a generation full of learning and development. Bitcoin was created for countries repairing their broken financial systems and Bitcoin is one way to achieve financial freedom.

[john_egbert]

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.

As it always was

But it's still better than seeing them trying to ban crypto or BTC..

[Doll2233]

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.

Well, it's a good news and such a news is always going to be helpful for Bitcoin and for the whole crypto community. In near future we might see many countries legalizing Bitcoin and crypto currencies, and that will make most countries go from cash economy to cashless economy. The time isn't far when we might see many countries making their own CBDC's as those are going created my most countries in future. I'm happy that people of Ghana can now legally use Bitcoin and trade it without any worries.

Ghana is not only country which want to legalize the cryptocurrency, many other countries are trying to legalize that because that will be best step for their country to go ahead. Some economically stable countries are exploring or allowing use of btc but their stability comes from strong institutions, industries and economic policies not from bitcoin alone and usa is dominant global power due to its strong economy, military strength and global influence not because of btc or crypto. Countries gain resource through trading, tax and economic activity. Cryptocurrency does not directly give any country military or geopolitical power although some government are exploring digital asset cautiously. People are earning good with cryptocurrency in many countries in which it is illegal and they do not want to lose their skill and they are doing their investment and earning good by that platform.

[Johnlomape]

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

There are so many African countries that allow their citizens to use Bitcoin but it might not be an official use since they may have not put a ban on it. We are getting close to the revolutionary season when the government will be tired to print money again and people will be forced to use digital currency like Bitcoin for all their trades.

If a country like Ghana can officially admit that they are now allowing their citizens to trade Bitcoin without any government restrictions, by the forces, that will be good for everyone their that are trying to learn about cryptocurrency and start using Bitcoin for their businesses.

[_BlackStar]

-snip-

If a country like Ghana can officially admit that they are now allowing their citizens to trade Bitcoin without any government restrictions, by the forces, that will be good for everyone their that are trying to learn about cryptocurrency and start using Bitcoin for their businesses.

The clarification of the legality of using Bitcoin in Ghana is certainly good news for the Bitcoin community - but I'm not entirely sure what exactly they have legalized. If its legal status is still limited to being merely an asset that can be invested in and traded – then its practical use cases remain prohibited, so bitcoin cannot be used as a legitimate means of payment. But if Ghana were to legalize bitcoin without restrictions on its use cases, then that would be truly welcome.

In many countries, Bitcoin is not prohibited from being traded or invested in, but many countries still do not legalize its actual use as a currency. What can be expected is the legalization of bitcoin as a means of payment – ​​if that happens, then many businesses will gradually adopt it as a payment method.