PANews reported on October 17th that according to Bloomberg, Johnson Asiama, Governor of the Central Bank of the West African country of Ghana, said on the sidelines of the International Monetary Fund (IMF) meeting in Washington on Thursday that Ghana expects to introduce a law to regulate cryptocurrencies and virtual assets by the end of December. Asiama stated: "This is a critical area and we must strengthen the supervision and monitoring of these transactions. We have developed a regulatory framework and introduced a new bill to regulate virtual assets. The bill has been submitted to Parliament and we hope to pass it by the end of December, at which time we will be able to regulate cryptocurrencies in Ghana." He also stated that Ghana, Africa's largest gold producer, is establishing a new department and cultivating relevant expertise to assist in regulatory work in this area.