The Securities and Exchange Commission (SEC) has warned celebrities and social media influencers towards selling cryptocurrencies and different digital property with out right kind authorisation.

This comes as the rustic prepares to put in force its newly handed Virtual Asset Service Providers (VASP) regulation.

The regulation, these days looking forward to presidential assent, seeks to control cryptocurrency and digital asset actions whilst strengthening anti-money-laundering and counterterrorism financing measures in Ghana’s abruptly rising virtual development plan.

Speaking on the maiden National Virtual Asset Literacy Programme for Virtual Asset Market Operators, Mensah Thompson, Deputy Director-General of the SEC answerable for Finance, stressed out that the digital asset ecosystem is extremely risky and calls for strict regulatory oversight, specifically in profit, innovator, and advocacy.

“We all know how volatile the virtual asset space is. And that’s why specific rules have been designed to guide advertisement, promotion, and advocacy. And so influencers who want to work in this space, please be reminded that there are rules concerning advocacy and influencing in the virtual asset space,” he stated.

Mr Thompson warned that violations of those laws will draw in sanctions. He suggested influencers to familiarise themselves with the regulatory framework prior to working within the plan.

“And most effective licenced and permitted individuals might be allowed to have interaction in advocacy, commercial, or innovator within the digital asset area. And there are penalties for this breach.

“And so we wish to ship this message to you, that if you wish to paintings in that area as an influencer, take steps to touch the SEC and the Bank of Ghana for the principles that information that,” he added.

The SEC says imposing the VASP regulation will give protection to traders, reinforce leadership integrity, and make sure accountable participation in Ghana’s virtual asset leadership, sending a transparent message that innovator of digital property with out authorisation will now not be tolerated.

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