Bank of Ghana to introduce cryptocurrency licensing guidelines

The Bank of Ghana is preparing to release new guidelines to license Virtual Asset Service Providers (VASPs), marking a shift toward formal regulation of the cryptocurrency sector. Governor Dr Johnson Asiama acknowledged that the central bank had previously ignored the prevalence of digital assets, stating, “We have in the past pretended that cryptocurrency does not exist, but the truth is that it goes on whether you like it or not.”

The upcoming framework aims to provide oversight for exchanges, wallet providers, and trading platforms to protect citizens from fraud and scams. This regulatory move follows the recent inauguration of the Virtual Assets Coordinating Committee, which operates under the Virtual Assets Service Providers Act, 2025 (Act 1154). The committee includes representatives from the Bank of Ghana and the Securities and Exchange Commission to ensure coordinated supervisory action.