The passage of the Virtual Asset Service Providers Bill marks a significant shift in Ghana’s financial regulation, bringing digital asset trading into a structured legal and supervisory system for the first time.
Ghana’s Parliament has passed the Virtual Asset Service Providers Bill, 2025, marking the first time cryptocurrency trading is clearly legal under a national law. The law was announced by Bank of Ghana Governor Dr. Johnson Pandit Asiama and reflects the government’s effort to bring digital asset activity under formal oversight.
Under the new law, virtual asset trading is no longer in a legal grey area. Individuals who buy, sell, or hold cryptocurrencies will not face arrest for participating in digital asset markets. The legislation establishes licensing rules and gives the Bank of Ghana authority to oversee and regulate crypto service providers.
Supporters say regulatory clarity aims to enhance consumer protection and manage risk. The law includes provisions to address fraud, money laundering, and systemic vulnerabilities in digital markets. Officials stress that rules are meant to protect users while allowing innovation to continue in Ghana’s growing crypto ecosystem.
The Bill requires exchanges, wallet operators, and other virtual asset service providers to register and obtain licenses from the Bank of Ghana or the Securities and Exchange Commission. These licensing requirements are designed to ensure accountability and compliance with financial standards.
Officials confirmed the law’s passage at a Bank of Ghana event in Accra on December 19, but it still awaits presidential assent before taking full effect. Regulatory instruments and detailed guidelines are expected in early 2026, giving firms time to prepare for compliance.
Regulators Set Rules to Oversee Market Growth
The law places formal oversight of digital assets in the hands of the Bank of Ghana, making it the primary regulator for cryptocurrency platforms. The central bank’s role includes issuing licenses, supervising operations, and monitoring compliance with consumer protection standards.
Bank officials and industry stakeholders say the law reflects the rapid growth of crypto use in Ghana, where millions of people engage with digital assets through local and international platforms. Prior to this change, crypto activity operated with limited legal guidance, raising concerns about fraud and unregulated financial risk.
Alongside licensing, the law encourages transparency and risk management. It aims to align Ghana’s crypto market with international standards on anti-money-laundering and counter-terrorism financing. Regulators indicate that phased implementation will follow, including specific rules for capital requirements and operational controls.
The new framework also positions Ghana to explore related digital finance innovations. Reports say discussions continue on projects like gold-backed stablecoins and broader digital payment solutions. Officials argue that with regulatory clarity, Ghana can support technological growth while safeguarding financial stability.
