The Chief Executive Officer of Dalex Finance, Joe Jackson, has emphasised that Ghana must embrace cryptocurrency as part of alternative investment options.
According to him, the global financial landscape is increasingly shifting towards crypto, and it is imperative that the government establishes regulatory frameworks early to protect both current and potential investors.
Speaking on the sidelines of the Business and Financial Times–Ecobank “The Money Summit,” he stated, “Crypto is going to be one of the alternatives, right? And it’s good that the central bank has clearly indicated that they will come out with the rules that will govern crypto. But let’s also be clear, crypto, what do you call it? Crypto, what currency? It is another currency.
“It may have certain advantages that make it less likely to be debased like traditional currencies, but it also has deficiencies that must be considered. Crypto has gone up and down, up and down. So let nobody think it is a silver bullet for investment, where you invest and get fantastic returns,” he explained.
The Money Summit was held under the theme, “Optimising Investment and Pensions Management: Strategies for Sustainable Retirement Income and Economic Growth.”
Joe Jackson cautioned investors against making hasty decisions regarding cryptocurrency, highlighting its high volatility. However, he noted that with proper understanding, significant profits could be made.
“Please make sure you understand what you are getting into. Don’t just follow the bandwagon. We would be grateful if regulation is introduced to ensure order in the space.
“I made my first crypto investment way back in 2005. I’ve been in the market, I’ve jumped out, and I haven’t jumped back in yet. But I’ve seen the highs and the lows, fantastic returns and some crazy losses.
“I’m not in the crypto market at the moment. But it is real. If you take all the countries in Africa, Ghana was the fifth-largest recipient of crypto, and that cannot be ignored. It must be addressed, and it’s better for it to be regulated,” he pointed out.
Meanwhile, Governor of the Bank of Ghana, Dr Johnson Asiama, has announced that the central bank will begin regulating cryptocurrencies and virtual asset platforms by the end of September 2025.
Speaking at the African Leaders and Partners Forum, hosted by the EBII Group during the IMF/World Bank Spring Meetings in Washington, DC, Dr Asiama said the initiative is tied to the anticipated passage of the Virtual Asset Providers Act.
“To enhance the regulation of these platforms and assets, the Bank of Ghana is establishing a dedicated unit focused on digital assets. This is a technology we cannot prevent, hence the need to move fast to regulate it,” Dr Asiama revealed.
The new law will authorize the Bank of Ghana to license and oversee operations within the digital asset sector.
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