tl;dr
Ghana’s central bank will begin regulating digital assets in September, pending the passage of the Virtual Asset Providers Act currently before parliament, according to Governor Johnson Asiama. The regulation aims to protect consumers, prevent illicit crypto use, ensure financial stability, and invo...
Ghana’s central bank plans to regulate digital assets starting September 2025, pending legislation, to promote innovation while protecting consumers.
The Bank of Ghana aims to launch its central bank digital currency (eCedi) this year to modernize payment systems and ensure monetary sovereignty.
Ghana’s young, tech-savvy population is driving digital asset adoption amid economic challenges and currency depreciation.
The Bank of Ghana will begin regulating digital assets in September, pending the passage of the Virtual Asset Providers Act currently before parliament, according to Governor Johnson Asiama.
The regulation aims to protect consumers, prevent illicit crypto use, ensure financial stability, and involves licensing for virtual asset service providers (VASPs), with oversight by the Bank of Ghana and the Securities and Exchange Commission.
A dedicated digital asset unit will be established once legislation is passed.
Despite the absence of current regulation, digital asset adoption is significant in Ghana, with 17% of the population holding digital assets.
Ghana ranks fourth in Africa for crypto interest, behind Nigeria, South Africa, and Kenya.
This adoption is largely driven by Ghana’s young population, with 56% aged 25 and below, who increasingly turn to digital assets amid currency depreciation and economic hardship.
The Bank of Ghana is also moving forward with its central bank digital currency, the eCedi, which is expected to launch this year pending legislation.
The eCedi aims to digitalize Ghana’s payment systems, expand financial inclusion, and safeguard monetary sovereignty.
Governor Asiama emphasized that a fast, inclusive digital transformation is essential to empower Ghana’s youth and build innovative public infrastructure.
Economic factors such as the cedi’s depreciation—losing 19% against the USD in 2024—have pushed many Ghanaians toward digital assets, especially USD-pegged stablecoins, as hedges.
The central bank views regulation as necessary to balance innovation with consumer protection and financial stability.
Asiama concluded, “This is a technology we cannot prevent, hence the need to move fast to regulate it.”