Central bank gains authority to license and supervise crypto providers to curb fraud and systemic risk
Ghana has formally legalized cryptocurrency trading after parliament passed comprehensive legislation establishing a regulatory framework for digital assets. The move provides long-awaited legal clarity for crypto users and businesses, while granting the country’s central bank direct oversight of the sector.
The newly enacted Virtual Asset Service Providers Bill makes cryptocurrency trading legal nationwide and removes uncertainty around enforcement. Authorities have emphasized that individuals can now engage in crypto activities without fear of arrest, as long as those activities fall within the regulatory framework. The legislation follows earlier signals that Ghana aimed to introduce formal crypto rules before the end of 2025.
Under the law, the Bank of Ghana becomes the primary regulator of cryptocurrency activity. It is empowered to license, supervise, and monitor crypto asset service providers, including exchanges and custodial platforms. The framework is designed to reduce fraud, money laundering, and systemic financial risks, while strengthening consumer protection and regulatory accountability.
Officials have stressed that the law is not only about enforcement but also about creating a foundation for stronger supervision and more effective policy development in the digital finance sector.
The regulatory framework is intended to encourage responsible innovation, particularly among young entrepreneurs and technology-driven businesses. By bringing crypto activity into the formal financial system, Ghana aims to expand access to digital financial services and support broader financial inclusion goals.
Ghana already ranks among the top five crypto economies in Sub-Saharan Africa by transaction value. The region recorded more than $205 billion in on-chain activity over the past year, reflecting rapid growth and positioning Africa as one of the world’s fastest-expanding crypto markets.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.