Legality of Bitcoins in Ghana

svyat (35)in #bitcoin • 8 years ago

Despite previous announcements, which had came from career bureaucrats within Ghanaian government hinting on a possibility for crypto-currencies to be legalized, in January 2018 the Central Bank's official representative announced that trading and using digital money in Ghana stops to be legitimate and will be persecuted.

For a country with a reputation for embracing technological creativity this ill-advise resolution promulgated by orthodox officeholders won't do more than just decelerating innovations. It will also be impossible to fully implement as Internet penetration rate continues to grow rapidly granting easy access to various detection avoidance tools. Meanwhile, Bitcoin is forced to go underground in Ghana.

The author: Svyatoslav (Svyat) Sedov
Angel investor and founder of The First International Incubator for Silicon Valley Companies (FirstInternational.In) in the Bay Area, CA, USA.

Twitter: https://twitter.com/SvjatoslavSedof

8 years ago in #bitcoin by svyat (35)

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the-ivor (55) 8 years ago

Thanks for the update.

The honeybadger Bitcoin will keep churning out blocks and increasingly wealthy users regardless of State level stupidity and corruption. Give Ghana officials a few years to figure it out or become laughingstocks in the eyes of the worldwide Bitcoin adopting public.

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