All things being equal, Ghanaians will no longer see the giant billboards and other forms of advertisement on virtual assets and stablecoins in the coming days, as the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have given virtual asset firms a 48-hour notice to pull down all those public ads.
The failure to do so within the two-day notice, the two regulators say, will amount to severe sanctions for the culprits.
In a joint press release dated February 20, 2026, the BoG and the SEC directed all Virtual Asset Service Providers (VASPs) to immediately cease mass marketing and public promotional campaigns for virtual assets and stablecoin products unless expressly authorised by both regulators.
This directive, according to the statement, applies to all VASPs, even including those currently operating within the regulatory sandbox framework.
The Concern Over Aggressive Advertising
The regulators say they have observed with concern the increasing advertisement of virtual asset and stablecoin products, including the mounting of large billboards in Accra and other parts of the country.
This public mass campaign, according to the joint statement, has crossed into regulated territory.
Under the newly passed Virtual Asset Service Providers Act, 2025 (Act 1154), virtual asset advocacy and promotion are regulated activities. Firms engaging in such activities must register with and receive authorisation from the BoG and SEC.
Detailed rules governing advertising and advocacy are expected to be issued in due course.
Transitional Window – But No Free Marketing
While the Act provides transitional arrangements for existing VASPs to apply for licensing or registration once the regime becomes operational, regulators made it clear that this does not permit unrestricted public advertising.
Firms that have already mounted billboards or launched public campaigns have been instructed to remove them within the stipulated 48-hour period.
Failure to comply, the statement warns, will attract severe sanctions.
“This notice is to caution VASPs who have mounted billboards and other forms of public advertisement to take them down within 48 hours of the date of this notice. Failure to comply will result in sanctions against the offending service providers,” the press release announced.
Why This Matters
This clampdown signals a tightening of oversight in Ghana’s rapidly evolving digital asset space.
Virtual asset and stablecoin products often promise high returns, borderless transactions, and financial innovation. However, without clear regulatory approval and investor protection frameworks, aggressive advertising can expose the public to significant financial risks.
It is believed that by stepping in early, the BoG and SEC are preventing a situation where marketing runs ahead of regulation.
