Ghana has formally legalized cryptocurrency trading by passing the Virtual Asset Service Providers (VASP) Bill, 2025, establishing the country’s first comprehensive framework for digital assets.
The law brings years of regulatory uncertainty to an end, allowing individuals and businesses to participate in crypto trading within a clearly defined legal structure.
Bank of Ghana (BoG) Governor Johnson Asiama confirmed the development in remarks reported by the state-owned Daily Graphic.
“Virtual asset trading is now legal, and no one will be arrested for engaging in cryptocurrency,” he said.
The announcement follows earlier signals from the central bank that crypto regulation was targeted for introduction by the end of 2025.
Central bank gains supervisory authority
The VASP law designates the Bank of Ghana as the primary regulator of cryptocurrency activity. The central bank has the authority to license and supervise crypto asset service providers (CASPs), including exchanges and wallet operators.
The framework is designed to protect consumers from fraud, money laundering, and systemic risks, while removing ambiguity over the legal status of digital assets.
“We now have a framework to manage the risks involved.”
Governor Asiama emphasized that the legislation is more than a legal milestone.
“These are enablers of better policies, stronger supervision, and more effective regulation,” he said.
He also pointed the law’s role in fostering financial innovation and expanding access, particularly among Ghana’s young, tech-savvy population and entrepreneurs.
Ghana’s emerging role in Africa’s crypto landscape
Ghana is increasingly recognized as a leading market for cryptocurrency in Sub-Saharan Africa. The 2025 Chainalysis Geography of Cryptocurrency Report ranks the country among the region’s top five in total crypto value received between July 2024 and June 2025.
During the same period, Nigeria remained the largest recipient of crypto inflows, totaling $92 billion, almost three times the amount recorded by South Africa.
Across Sub-Saharan Africa, on-chain crypto activity reached more than $205 billion, up roughly 52% from the previous year.
A regulated path forward
The legislation introduces a collaborative regulatory model, with oversight shared between the Bank of Ghana and the Securities and Exchange Commission. Licensed providers must adhere to compliance standards covering reporting, consumer protection, and risk management. This approach balances innovation with safeguards, signaling that Ghana sees blockchain technology as an integral part of its financial ecosystem rather than a threat.
Legalization does not simply make cryptocurrency lawful, it formalizes activity that was already occurring informally, bringing it under regulatory supervision.
By providing clarity, authorities aim to encourage accountability, transparency, and responsible growth within the sector.
Asset-Backed digital innovation
Ghana is also exploring the introduction of asset-backed digital tools, including gold-backed stablecoins, by 2026. Leveraging the country’s gold reserves, these instruments could support blockchain-based payments, trade finance, and cross-border settlements, blending traditional resources with emerging financial technologies.
If implemented, such initiatives could position Ghana as a regional pioneer in commodity-linked digital assets.
Jordan V.
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