Ghana plans to explore gold-backed stablecoins; it passed a bill yesterday legalizing cryptocurrency transactions.

2025-12-252025-12-23 by admin

PANews reported on December 23 that, according to The Block, the Ghanaian Parliament passed the Virtual Asset Service Providers Act , officially legalizing cryptocurrency trading. Related practitioners must register with the central bank or securities regulator. The Central Bank of Ghana stated that in 2026 it will explore asset-backed digital settlement tools, including gold-backed stablecoins, to promote cross-border payments and market infrastructure development.

PANews reported on December 31 that Tom Lee, co-founder of Fundstrat and chairman of BitMine, wrote on the X platform: "Typically, during these last holiday trading sessions, many institutional investors exit the market, and algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance. These constitute the market dynamics in the last few days of December." Previously, in BitMine's announcement of acquiring 44,463 ETH last week, Tom Lee mentioned that market activity tends to slow down as the year enters its final weeks of holiday season. Year-end tax-avoidance selling depresses cryptocurrency and cryptocurrency-related stock prices, with this effect typically most pronounced between December 26th and December 30th; therefore, they are adjusting their market strategy accordingly. Earlier today, it was reported that Bitmine pledged another 118,944 ETH and increased its holdings by 32,938 ETH .