Ghana to Regulate Cryptocurrency Platforms by September 2025

The Bank of Ghana (BoG) is poised to roll out a regulatory framework for cryptocurrencies and virtual asset platforms by the end of September 2025, marking a pivotal shift in the country’s approach to digital finance.

This announcement was made by Dr. Johnson Asiama, Governor of the Bank of Ghana, during his remarks at the African Leaders and Partners Forum, organized by the EBII Group as part of the IMF/World Bank Spring Meetings in Washington, D.C.

According to Dr. Asiama, the central bank’s move into the digital asset space hinges on the anticipated passage of the Virtual Asset Providers Act — a forthcoming piece of legislation designed to empower the BoG to license, monitor, and regulate virtual asset platforms operating within Ghana’s financial ecosystem.

“To enhance the regulation of these platforms and assets, the Bank of Ghana is establishing a dedicated unit focused on digital assets,” Dr. Asiama stated. “This is a technology we cannot prevent, hence the need to move fast to regulate it.”

Proposed Timeline and Outcomes

• Q3 2025 (by September): Anticipated passage of the Virtual Asset Providers Act.

• Immediately following: Launch of a Digital Assets Regulation Unit within the BoG.

• By Q4 2025: Initiation of licensing and oversight of crypto exchanges, wallet providers, and other virtual asset entities.

• Long-Term Outcome: Improved consumer protection, reduced exposure to illicit financial activity, and enhanced investor confidence in Ghana’s fintech space.

Background: Crypto in Ghana

Ghana’s fintech sector has grown rapidly in recent years, with digital payments and mobile money leading financial inclusion efforts. However, the rise of cryptocurrency trading, peer-to-peer platforms, and blockchain startups has outpaced regulatory oversight.

Despite warnings from the BoG in previous years about the risks of unregulated crypto activity, interest in digital currencies like Bitcoin, Ethereum, and stablecoins has surged — especially among young, tech-savvy Ghanaians seeking alternatives to traditional financial systems.

In the absence of a clear legal framework, many crypto platforms have operated in a gray area. The new regulations aim to formalize the space, ensuring compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) standards, and positioning Ghana as a regional leader in digital finance governance.

A Pan-African Perspective

The African Leaders and Partners Forum attracted high-level stakeholders from finance, trade, agriculture, and policy sectors across Ghana, the U.S., Europe, and the Americas, focusing on strategies to deepen trade and investment ties between Africa and global partners.

With its forward-looking stance on crypto regulation, Ghana joins a growing list of African nations—such as Nigeria, South Africa, and Kenya—seeking to balance innovation with oversight in the digital economy.

WEST AREKAMEH