At the Africa Virtual Assets Summit in Accra on 2 November, Bank of Ghana Governor Dr Johnson Pandit Asiama said the Bank is developing a Stablecoin Directive under the Virtual Asset Service Providers Act, 2025 (Act 1154). I attended both days of AVAS, and stablecoins came up again and again.
What we know so far: 1. The Bank of Ghana is working with the SEC and the Financial Intelligence Centre, and a Virtual Assets Coordinating Committee has been set up. 2. The Governor flagged the risk that foreign-currency stablecoins pose to monetary sovereignty and confidence in the cedi. 3. No timeline or detailed requirements have been published yet.
What it could mean for users: clearer rules on who can offer stablecoin services in Ghana, stronger protection for customer funds, and possibly limits on how foreign-currency stablecoins are used for local payments.
Until the directive is out, stick to registered platforms and keep records of your transactions.
Sources: Bank of Ghana speech (bog.gov.gh), Citi Newsroom, TechLabari.
$BTC quick check, Binance spot at 08:00 GMT: 78,152, up 1.7% in 24 hours.
Overnight BTC fell to 75,736, its lowest level since mid-September, then bounced back above 78,000 within a few hours. That V-shape is the story of the morning.
Levels I'm watching:
Resistance: 78,374 (today's high), then 78,880 (the 2 November high). The 20-day average sits higher at 80,407.
Support: 77,420 to 77,550 (last night's close area), then 76,390 to 76,430 (the 3 November low and this morning's retest), then 75,736.
A daily close above 78,880 would be the highest daily close since 28 October. A slip back under 76,400 would put the overnight low back in focus.
Every exchange looks good on a calm day. The real test is how users are treated when something goes wrong. This week showed the resilience of the whole crypto ecosystem, and Binance's choice to put users first. Trust gets built in moments like this. #Binance