The Bank of Ghana (BoG) has directed banks and electronic money issuers to cease providing services to unauthorized fiat currency wallet providers. This includes discontinuing support for banking, payment processing, card acquisition, and settlement services related to these arrangements. The directive aims to regulate the burgeoning digital wallet landscape and ensure financial stability. The BoG did not specify which wallets are considered unauthorized, but the move signals increased scrutiny of the sector. Financial institutions are expected to take immediate action to comply with the new regulations. This action underscores the central bank’s commitment to overseeing digital financial services and protecting consumers. The BoG has yet to release details on potential penalties for non-compliance.