The Bank of Ghana (BoG) plans to begin overseeing cryptocurrency platforms and virtual asset service providers by September 2025, according to Governor Dr. Johnson Asiama. This move represents a major advancement in bringing regulatory clarity to Ghana’s fast-growing digital financial sector.
Dr. Asiama made the announcement at the African Leaders and Partners Forum in Washington, D.C., held alongside the IMF/World Bank Spring Meetings. He noted that the BoG’s regulatory role will be activated once the proposed Virtual Asset Providers Act is passed, granting the central bank the authority to license and monitor digital asset operations.
To support this initiative, BoG is forming a specialized unit dedicated to supervising digital asset activities. Dr. Asiama emphasized the inevitability of digital assets, stating that rather than resist them, authorities must act swiftly to implement proper oversight.
Cryptocurrency usage in Ghana—particularly Bitcoin and Ethereum—has grown substantially, even in the absence of formal regulation. In response, BoG released draft guidelines in August 2024 outlining licensing requirements, anti-money laundering safeguards, and internal governance standards for virtual asset providers.
These efforts form part of a broader strategy to modernize Ghana’s financial system, including the rollout of the eCedi, the central bank’s digital currency introduced in 2021 to boost financial inclusion and economic efficiency.
Dr. Asiama cautioned, however, that cryptocurrencies remain volatile, urging caution among potential investors.
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