The Bank of Ghana (BoG) has now moved to establish a regulatory framework for cryptocurrencies such as Bitcoin and Tether, as well as publishing a draft set of guidelines to enhance regulation of digital assets. The proposed regulations also require all cryptocurrency exchanges to undergo BoG's "thorough registration process" and participate in sandbox testing before they are allowed to operate. According to the draft, this move is essential to ensure that all market participants adhere to the "highest standards of security and operational integrity".