Ghana’s new virtual assets law is designed to regulate digital finance without encouraging speculation or stifling innovation, Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has said.
Speaking at a breakfast meeting with chief executive officers and senior executives of licensed financial technology institutions in Accra, the governor said the Virtual Asset Service Providers Act, 2025 (Act 1154), provides a formal regulatory framework for Ghana’s growing digital asset sector.
The event, held at the Bank of Ghana headquarters, brought together fintech operators, regulators, and senior central bank officials to discuss the implementation of the new law and its implications for the financial system.
Dr. Asiama said the legislation is intended to bring clarity, accountability, and transparency to virtual asset activities, rather than legitimising speculative trading.
“Our objective with this Act is not to legitimise speculation, nor to suppress innovation, but to bring clarity, accountability, and transparency,” he said.
He added that the framework sends a clear signal that innovation remains welcome in Ghana’s financial sector, but must operate within rules that protect users, preserve confidence, and safeguard financial stability.
The law, passed by Parliament in 2025, establishes licensing requirements for virtual asset service providers, including exchanges, wallet operators, and related platforms. It also brings the sector under joint oversight of the Bank of Ghana and other relevant regulatory agencies.
Under the framework, operators will be required to comply with anti-money laundering rules, cybersecurity standards, and consumer protection obligations as part of efforts to formalise a market that has expanded rapidly in recent years.
The Bank of Ghana says the new regime is part of broader reforms aimed at integrating emerging digital financial services into the formal financial system while managing associated risks such as fraud, volatility, and weak consumer safeguards.
Officials say implementation of the Act will be phased, with detailed guidelines expected to be issued to industry participants in the coming months.
