SEC eyes timelines for crypto legislation amid rising public interest

The Securities and Exchange Commission (SEC) is pushing forward with plans to establish a regulatory framework for crypto assets in Ghana but remains cautious about committing to a specific timeline.

Rev. Daniel Ogbarmey Tetteh, Director of the SEC, said that while there is an urgency to regulate, the focus remains on getting it right.

“Wouldn’t want to commit to a time frame, but let me just tell you that personally, I am eager to quickly come out with a regulatory framework,” Rev. Tetteh said.

He acknowledged the increasing public interest and participation in crypto trading, saying, “When I got to know the number of Ghanaians dabbling in this space, I realized the need for urgency.”

Despite the urgency, Rev. Tetteh emphasised the need for diligence.

“I’m in a hurry to ensure we have it right, but as the saying goes, haste slowly,” he added.

The SEC has been working closely with the Bank of Ghana, which recently issued an exposure draft on the matter.

“Very soon, we will come out with a similar position,” he assured.

Rev. Tetteh expressed confidence that the SEC’s regulatory framework will be out “in good time.”

He reiterated that the objective is to create a regulatory environment that protects market integrity and investor interests, while not rushing the process.