Ghana has officially stepped out of the regulatory “gray area” by passing the Virtual Asset Service Providers Bill, a historic move that legalizes the trading of cryptocurrencies and digital assets across the nation.
The legislation, passed by Parliament on Monday, establishes a comprehensive framework for the oversight and licensing of digital asset activities, positioning Ghana as a leader in African fintech regulation.
Bank of Ghana (BoG) Governor Dr. Johnson Asiama hailed the bill as a transformative step for the economy, ensuring that crypto activity is brought within “clear, accountable, and well-governed boundaries.”
In a public address, Dr. Asiama provided immediate clarity for the country’s millions of users:
“The passage of this bill means that no one is going to be arrested for trading crypto. We now have the tools to manage risks while allowing the sector to grow responsibly.”
Under the new law, any individual or entity seeking to provide digital asset services must register with either the Bank of Ghana or the Securities and Exchange Commission (SEC), depending on the specific nature of their operations.
The move comes as adoption in Ghana reaches record highs. Recent data from Web3 Africa Group highlights the scale of the market:
Transaction Volume: Approximately $3 billion in crypto transactions were processed in Ghana between July 2024 and June 2025.
User Base: An estimated 17% of the adult population (nearly 3 million people) currently use digital assets.
Looking ahead, the Governor outlined an ambitious roadmap for 2026, focusing on integrating digital assets into the core financial infrastructure.
A key highlight of the upcoming phase is the “targeted exploration” of asset-backed digital settlement instruments, specifically gold-backed stablecoins. By leveraging Ghana’s status as a top gold producer, the central bank aims to use these tokens to streamline cross-border commerce, trade finance, and foreign exchange (FX) settlements.
