The Ghana Government takes decisive measures to regulate the country’s cryptocurrency sector by introducing a license framework for cryptographic platforms.
This strategic decision aims to deal with the growing use of digital assets in Ghana and West Africa.
At the forefront of this development is the Bank of Ghana, which strives to implement a complete regulatory framework which should become law by September 2025.
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The next legislation aims to formalize cryptocurrency operations, to attract investments, to stimulate international trade and to allow the collection of financial data in real time.
As part of this initiative, the Bank of Ghana plans to establish a dedicated unit to supervise the digital asset sector once the law adopted. This regulatory structure will mark the country’s first formal system to supervise virtual asset service providers (VSAP), by preparing license requirements and compliance standards. The regulatory responsibilities will be shared between the Bank of Ghana and the Securities and Exchange Commission (SEC).
Speaking during a panel at the forum of African leaders and partners in May 2025, a representative of the Bank of Ghana noted that the legal foundation of surveillance depends on the adoption of the law on suppliers of virtual assets. The legislation describes key areas such as consumer protection, financial stability, cybersecurity and the integration of digital assets in the broader financial system.
This evolution arrives after the Bank of Ghana took note of recent developments in the use, detention and trading of virtual or digital currencies (also called cryptocurrencies), such as Bitcoin in Ghana.
The use of crypto has been quietly booming in Ghana in recent years. More than 3 million adults, around 17% of the adult population now use digital currencies such as Bitcoin and USDT, Estimates suggesting more than 900,000 people (3.01% of the population) have at least one type of cryptocurrency in 2022.
Cryptocurrency transactions jumped more than 150% between 2022 and 2023, the volumes of peer negotiation (P2P) increasing by 120% in annual shift, placing Ghana among the first 10 countries in sub-Saharan Africa for the adoption of cryptography. On the global scale, Ghana has ranked 29th in the world in the adoption of cryptocurrency according to the clue to the adoption of the global crypto of the chain chain (2023) and 4th in Africa for the interest of the crypto, behind Nigeria, South Africa and Morocco.
Hope is that the regulation of the cryptography sector will help Ghana grasp income and better control its fiduciary currency. The CEDI increased by more than 40% compared to the US dollar in 2025, helping the loss of almost 20% last year. This volatility made it difficult for the central bank to manage inflation.
In a declaration made in May, the Bank of Ghana stressed that all companies related to cryptocurrency will have to register and comply with the knowledge of your customer (KYC) and anti-balance protocols aligned with international standards. This includes both existing players and new entrants into industry.
The regulatory thrust should also stimulate improvement in safety and transparency, promoting a more resilient and competitive cryptography ecosystem in Ghana and the West African region. For users of Ghanaian crypto, the law represents an important step. He promises legal protection in the event of disputes or service failures, offering essential insurance and confidence in the space of digital assets.
