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5 clusters · 13 sources · 36 days · First seen · Last updated
Ghana virtual asset regulation development
Overview
Ghana has moved into a coordinated supervision phase for virtual asset regulation following the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154). To prevent institutional silos, the government inaugurated the Virtual Assets Coordinating Committee, which includes representatives from the Bank of Ghana, the Securities and Exchange Commission, the Ministry of Finance, the Cyber Security Authority, and the Financial Intelligence Centre. Building on this committee’s formation, the Bank of Ghana is preparing to release specific licensing guidelines for Virtual Asset Service Providers (VASPs), such as exchanges and wallet providers. Governor Dr Johnson Asiama noted that the central bank had previously ignored the sector, 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 regulatory regime is now operationalizing oversight for a market that serves more than three million users. A 2025 registration exercise identified over 100 service providers, including those offering brokerage and wallet services. The Bank of Ghana, the Securities and Exchange Commission, and the Financial Intelligence Centre are focusing on licensing and registration to manage risks related to payments, capital flows, and financial stability. The government intends to have the virtual-asset framework fully operational by 2027. As the new regime approaches its December 2026 implementation, the International Monetary Fund (IMF) has urged Ghana to strengthen its supervisory frameworks. The IMF noted that while the 2025 Act provides a legal foundation, specific activity-based rules for trading, brokerage, and lending remain missing. Additionally, the IMF recommended clearer rules regarding stablecoin reserves, liquidity, and redemption rights to manage their use in inflation hedging and cross-border settlements. The IMF emphasized that regulators must improve coordination and technical expertise to manage a market that facilitates approximately $21 billion in annual transactions.
Entities
Bank of Ghana · Securities and Exchange Commission · Ghana · Dr Johnson Pandit Asiama · Securities and Exchange Commission Ghana
Timeline
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[BUSINESS] 3 sourcesGhana SEC chief calls for stronger crypto regulations in Africa
Ghana's SEC Director-General Dr James Klutse Avedzi urges stronger regulatory frameworks for Africa's growing virtual asset market to protect investors and leverage tokenisation opportunities.
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[BUSINESS] 2 sourcesIMF urges Ghana to strengthen crypto oversight
The IMF is calling on Ghana to bolster its cryptocurrency and stablecoin regulations before a new oversight regime begins in late 2026, citing the country's rapidly expanding virtual asset market.
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[BUSINESS] 4 sourcesGhana formalizes oversight of cryptocurrency market
Ghana is implementing the Virtual Asset Service Providers Act, 2025, to regulate a cryptocurrency market used by over three million people through new licensing and oversight measures.
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[BUSINESS] 6 sourcesBank of Ghana to introduce cryptocurrency licensing guidelines
The Bank of Ghana will soon release guidelines to license virtual asset service providers, moving to regulate the cryptocurrency sector to enhance consumer protection and oversight.
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[BUSINESS] 5 sourcesGhana inaugurates committee to oversee virtual asset regulation
Ghana has inaugurated a Virtual Assets Coordinating Committee to oversee the implementation of the Virtual Asset Service Providers Act, aiming for a full regulatory regime by 2027.
Sources
accrastreetjournal.com · biometricupdate.com · bitcoinke.io · chale.news · ghanaguardian.com · ghanamma.com · ghananewspage.com · horonyafinance.com · myjoyonline.com · norvanreports.com · opemsuo.com · thehighstreetjournal.com · thevaultznews.com
This summary has been updated 3 times: see revision history