Central Bank of Ghana to Regulate Crypto by Sep 2025

Ghana's Central Bank plans to regulate cryptocurrency and related platforms by the end of September 2025, contingent on the passage of the Virtual Asset Providers (VASP) Act by the Ghanaian legislature.

This legislation will empower the Bank of Ghana (BoG) to license and regulate virtual asset service providers operating in the country.

To enforce the new crypto regulations, the BoG will establish a dedicated digital asset department or special crypto task force focused solely on overseeing digital assets and platforms.

This move aims to provide regulatory clarity, consumer protection, and foster innovation while addressing risks such as fraud and money laundering.

Cryptocurrencies are currently not recognized as legal tender in Ghana, and the central bank has previously prohibited local banks from facilitating crypto transactions.

The new regulations will change this stance by bringing crypto activities under formal oversight, including compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) measures, as well as the Financial Action Task Force's Travel Rule for VASPs.

The initiative reflects a broader trend across Africa toward establishing clear frameworks for cryptocurrency regulation, aligning Ghana with other nations like Nigeria and South Africa that are also formalizing crypto oversight.

This represents a significant step in Ghana's approach to integrating cryptocurrency into its financial regulatory system.

Regulatory clarity and the creation of a dedicated digital asset department could unlock new opportunities for fintechs and startups. Businesses may be more willing to invest in blockchain-based solutions, tokenization, and decentralized finance (DeFi) projects, knowing there is a clear legal framework supporting their activities.

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