Ghana Regulators Order Cryptocurrency Firms to Remove Billboards

The Ghanaian government has taken a significant step towards regulating the cryptocurrency sector with a joint directive from the Bank of Ghana and Securities and Exchange Commission (SEC).

According to the directive, all Virtual Asset Service Providers (VASPs) must remove their billboards within 48 hours or face severe penalties. This move targets companies that have aggressively marketed their products to the public.

The regulators aim to reduce the hype surrounding digital assets by removing visual cues that attract retail investors. The joint statement notes that 'the increasing advertisement of virtual asset and stablecoin products' is a concern for the authorities.