The Bank of Ghana is set to begin regulating cryptocurrency platforms and virtual asset providers by the end of September 2025, pending the passage of the Virtual Asset Providers Act.
According to Dr. Johnson Asiama, Governor of the Bank of Ghana, the central bank is establishing a dedicated unit focused on digital assets to enhance regulation and supervision.
Speaking at the African Leaders and Partners Forum in Washington, D.C., held on the margins of the IMF/World Bank Spring Meetings, Dr. Asiama said, “To enhance the regulation of these platforms and assets, the Bank of Ghana is establishing a dedicated unit focused on digital assets. This is a technology we cannot prevent, hence the need to move fast to regulate it.”
The Bank of Ghana had earlier issued draft regulatory guidelines in August 2024, aimed at introducing mandatory registration, anti-money laundering compliance, and stringent internal controls for Virtual Asset Service Providers (VASPs).
Dr. Asiama’s remarks reinforced the Bank of Ghana’s broader digital finance ambitions, including the eventual rollout of Ghana’s central bank digital currency (CBDC), the eCedi.
While cautioning investors about the inherent risks involved in crypto trading, he noted, “Despite the optimism, Dr. Asiama cautioned investors about the inherent risks involved in crypto trading, noting the high volatility and vulnerability of cryptocurrencies to price swings.”
The forum provided a platform for stakeholders from Ghana, the United States, Europe, and across Africa to discuss ways to deepen trade and financial cooperation between Africa and its global partners.