ENSIGN TRADING

Binance founder and former CEO Changpeng Zhao (CZ) shared a condensed crypto-security guide on X, saying he made the shortened version after realizing his original Binance blog post on keeping crypto "#SAFU" in 2026 was too long and wordy. His core advice: match security measures to the value of your holdings and your technical ability, addressing three priorities - prevent theft, prevent accidental loss, and provide for inheritance. On self-custody, he noted private keys authorize access to funds and seed phrases generate those keys, so anyone who obtains either can control the associated crypto; self-custody requires secure devices, reliable backups, and a workable recovery plan.
To prevent key theft, he recommended a dedicated offline computer for storing keys and signing transactions, software installed only from official sources via clean removable media, malware checks on downloads, disk encryption, a dedicated phone reset before wallet installation and kept offline with a strong passcode, and established hardware wallets - while verifying destination addresses on the device before approving transfers, protecting backups as carefully as the device itself, and cautioning that hardware wallets remain vulnerable to software flaws, physical attacks and insecure backups. To prevent key loss, he advised multiple protected backups in separate locations: paper is simple to create but vulnerable to damage, loss, transcription errors and unauthorized reading; metal is more durable but still readable by others; encrypted USB drives allow geographically separated backups but require strong encryption and technical care - and he warned against photographs or screenshots of keys that may sync to cloud accounts. For inheritance, he suggested providing a recovery process without unnecessarily exposing funds during one's lifetime, noting sharing keys gives recipients immediate spending acces and storing keys with an intermediary carries simiaf risks; a dead ma after prolonged and tested first and recovery instructions should be crypted for the intended recipient - for example with their PGP public key - rather than left unencrypted in scheduled messages.
On centralized exchanges, CZ said exchanges manage custodv and infrastructure but users remain responsible for account security, urging users to evaluate reputation, security resources, testing practices and the sustainability of the business model, treat unusually generous incentives or unclear revenue sources cautiously, and recognize that exchange custody carries counterparty risk.
Among his 11 account-security measures: a separate email address for each exchange with strong two-factor authentication, preferably a hardware security kev; avoiding phone-based recovery that could expose accounts to SIM-swap attacks; unique passwords stored in a protected password manager; whitelisting withdrawal addresses; keeping API keys private; completing identity verification to support ownership checks and inheritance procedures: securing devices physically; and avoiding phishing by opening exchanges through trusted bookmarks or carefully typed addresses, never entering credentials after unsolicited links and treating unexpected contact from purported exchange staff cautiously.
He closed by advising users to choose a custody mix -- allocatina funds between exchanges and personal wallets according to technical ability, security practices and access needs - since self-custody requires independent key protection and recovery, exchange custody requires trust in the provider and strong account protection, and a separate wallet can provide access during exchange maintenance.

The Bank of Ghana (BoG) has a full department in place to regulate crypto businesses, reporting directly to the Governor. But more than nine months after Parliament passed the law creating Ghana's crypto regime, firms still have no way to apply for a license.
The Virtual Assets Department is listed as one of the central bank's 25 departments in its 2026 Right to Information (RTI) Manual, approved by the Governor, Dr Johnson Pandit Asiama, on September 23, 2026.
The manual tasks it "to oversee, supervise, and regulate participants in Ghana's virtual assets ecosystem in accordance with the Virtual Asset Service Providers Act, 2025 (Act 1154)," working with the Securities and Exchange Commission (SEC).
The Bank's organizational chart places the department in the Governor's direct line of reporting, outside the supervisory departments that fall under the two Deputy Governors.
Yet the door to licensing remains shut. As of Friday, October 2, the Bank's virtual assets webpage still stated that its application process and fees pages "will be available by the end of the third quarter of 2026," a deadline that had passed on September 30.
Officials have also indicated that the Act will be fully operationalized only by 2027, as regulators finalize guidelines and policy sandboxes.
The missed deadline caps a regulatory journey marked by shifting timelines.
In 2025, shortly after taking office, Governor Asiama said crypto regulations would go live by September that year. The Bank then ordered all virtual asset service providers to register by August 15, 2025. It stressed that registration was only to identify and assess firms and was not a license to operate.
By November 2025, the Bank said more than 100 firms had registered. In a policy paper released on November 5, it announced plans to set up a Virtual Assets Regulatory Office to oversee the sector. The Bank now operates a full department, which it describes on its website as newly established.
Parliament passed the Virtual Asset Service Providers Bill on December 12, 2025, and the President assented to it on December 24. The law makes it unlawful to provide a virtual asset service without being registered, licensed or otherwise permitted under the Act.
Soon after, the Bank's then Lead for Virtual Assets Regulation, Dr Seyram Pearl Kumah, said all implementing instruments would be out by the first quarter of 2026. She cautioned at the time that the Act did not mean crypto trading had been legalized.
Since then, regulators have moved in stages. The SEC published sandbox guidelines in January 2026 and admitted six firms into a one-year sandbox in February. On February 20, a joint BoG-SEC directive ordered all virtual asset providers to remove their advertising within 48 hours.
By July 2026, the Bank was referring to Mr Tahiru Alhassan as Head of the Virtual Assets Department. Mr Alhassan described a dual regulatory model, under which the central bank oversees payment systems and financial infrastructure while the SEC supervises investment-related activities.
In August 2026, the Bank inaugurated the Virtual Assets Coordinating Committee, required under Act 1154. It brings together the Bank of Ghana, the SEC, the Ministry of Finance, the Cyber Security Authority and the Financial Intelligence Centre. The Bank holds the chairmanship for the first two years, after which it rotates to the SEC.
The department's elevation reflects a longer push by the Governor to keep the central bank ahead of digital finance. Dr Asiama has said that as Deputy Governor in 2016 he warned the Bank was "behind the markets." That warning led to the creation of a Payment Systems Department, which later gave rise to the Fintech Department.
The stakes are significant. According to estimates cited in media reports, about three million Ghanaians, roughly 17 per cent of adults, already use digital assets. One industry estimate put crypto transactions in Ghana at about US$3 billion in the year to June 2024, raising concerns over the potential impact on management of the cedi.
Until the application process opens, the more than 100 firms that registered with the Bank in 2025 remain in limbo. They are barred from advertising and are waiting on a licensing window the Bank promised by the end of September.
The RTI manual does not say when licensing will begin, how many firms are expected to qualify, or what will happen to those operating without approval once the regime takes full effect.

Ghana is the fifth largest crypto market in sub-Saharan Africa with adoption increasing.
Data suggests that between 8% and 17% of the population have bought or sold crypto, with estimated annual crypto transactions around $21 billion.
According to a report by the International Monetary Fund, stablecoins are rapidly growing, but the main use cases remain in crypto trading and as a hedge against inflation although the use in cross border settlement in the informal and semi-formal economy is growing.
Titled “Regulation and Supervision of Crypto Markets and Activities”, the Fund said the use of stablecoins in retail remittances is negligible but may grow. “Asset tokenization is a small but growing area of crypto markets”.
Ghana passed legislation on crypto markets and activities, including stablecoins, in December 2025. The Virtual Asset Service Providers Act 2025 (the Act) gives the BoG and SEC power over crypto markets and activities
The IMF report was outdoored when the Monetary and Capital Markets (MCM) concluded a technical assistance mission to Ghana on the regulation and supervision of crypto markets.
The mission covered the regulation and supervision of crypto asset service providers (CASPs) and stablecoin arrangements (SCAs) for the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC).
It reviewed prudential and conduct frameworks for CASPs and SCAs against global standards and recommendations set by the Financial Stability Board, and the International Organization of Securities Commissions.

Government is targeting 2027 for the full operationalisation of its Virtual Asset Service Providers Act, 2025 (Act 1154), as the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) work to develop the regulatory framework for the rapidly evolving sector.
Governor of the Bank of Ghana, Dr Johnson Asiama, said the two institutions are developing operational guidelines and implementing policy sandboxes to support the effective implementation of the law.
Speaking at the inauguration of the Virtual Assets Coordinating Committee (VACC), Dr Asiama said the legislation was a critical step in bringing Ghana’s growing virtual asset sector under a formal regulatory framework.
“The operational guidelines are being developed by the designated regulatory authorities, i.e., the Bank of Ghana and the Securities and Exchange Commission, alongside the implementation of policy sandboxes by both institutions towards fully operationalizing the Act by 2027.”
The Act was enacted following concerns raised by Ghana’s 2024 national Anti-Money Laundering, Counter-Terrorist Financing and Proliferation Financing (AML-CFT-PF) risk assessment.
According to Dr Asiama, the assessment revealed significant adoption and use of virtual assets in Ghana, alongside increasing links between the sector and the formal financial system.
“The report highlighted the urgent need for a legal and regulatory framework to govern the evolving virtual asset sector. So, fast forward, we now have Act 1154 before us.”
Regulatory framework
The Governor said the development of operational guidelines and policy sandboxes by the BoG and SEC would help provide the regulatory infrastructure needed to implement the law.
The policy sandboxes are expected to provide a controlled environment for regulators to assess emerging virtual asset products, services and business models while the broader regulatory framework is being developed.
Dr Asiama said the establishment of the VACC is another important component of the implementation process, as it will bring together key institutions responsible for overseeing different aspects of the sector.
The committee comprises representatives from the Bank of Ghana, SEC, Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre, with provision for other relevant institutions to be co-opted when necessary.
He said the committee would provide a statutory platform for coordinated regulatory and supervisory action.
“The inauguration of the virtual assets coordinating committee is therefore critical to the effective implementation of the Virtual Assets Providers Act 2025 Act 1154, as it will provide the statutory platform for coordinated regulatory and supervisory actions among the relevant institutions.”
Balancing regulation and innovation
Dr Asiama stressed that Ghana’s regulatory approach must keep pace with developments in digital finance while creating room for responsible innovation.
“The pace at which virtual assets and digital finance are evolving globally, this leaves us little room for a passive approach.”
He said effective coordination and information sharing would be critical to developing a virtual asset ecosystem that is safe and well regulated without undermining innovation and inclusion.
“Effective coordination, timely information sharing, and a shared commitment to safeguarding the integrity of our financial system, these will be essential if we are to build a virtual asset ecosystem, an ecosystem that is safe, an ecosystem that is well regulated, and an ecosystem that is supportive of innovation and inclusion.”
The Governor said the VACC would also help strengthen Ghana’s response to risks associated with virtual assets, including money laundering, terrorist financing, cybersecurity and consumer protection.
“The committee will facilitate harmonized implementation of the Act and its subsidiary regulatory instruments, strengthen information sharing and interagency cooperation, support coordinated responses to emerging risks, and enhance Ghana’s ability to address money laundering, terrorist financing, cybersecurity, consumer protection, and other risks that are associated with virtual assets.”
Dr Asiama described the inauguration of the VACC as an important transition from the enactment of the legislation to the establishment of a functioning regulatory framework.
“This inauguration this afternoon therefore marks an important transition from the enactment of the legislation to the establishment of an effective, coordinated, and sustainable virtual asset regulatory framework in Ghana.”