Bitcoin has become a significant issue of contention among regulators, which has led to further confusion among the general public. The question as to whether or not bitcoin is legal or illegal in your jurisdiction must have certainly crossed your mind.
In this article, we explore bitcoin and cryptocurrency regulation in Ghana.
Is Bitcoin Legal or illegal in Ghana?
Bitcoin is neither legal or illegal in Ghana. Instead, it’s an unregulated financial tool. Nevertheless, regulators have expressed negative sentiments about the technology, making it a very complicated question to answer.
So let’s get into the details, shall we!
First, we have to understand why it seems so hard for regulators to make laws on bitcoin.
Bitcoin operates in a deregulated ecosystem, which means that no central authority exists that can take full responsibility for the existence of bitcoin and action on the network.
This is because Bitcoin was created in 2009 by an unknown developer called Satoshi Nakamoto. To read about the history of bitcoin, read this…