- Ghana has passed a new law regulating crypto assets, embracing innovation while establishing clear rules over their use and issuance.
- The advantages of digital assets, along with their rising demand, have led to the government’s latest move.
The Republic of Ghana has moved forward from its unclear stance on cryptocurrencies amid rising demand. The country’s new crypto law is a significant development following its central bank’s draft proposal to regulate transactions involving blockchain-based digital assets.
Ghana’s New Crypto Legalization Bill
According to Bloomberg, the West African nation has officially passed a law legalizing crypto. The government embodied the new rules under the Virtual Asset Service Providers Bill, 2025.
The new law enumerates the requirements and procedures governing the licensing, supervision, and regulation of crypto-related businesses. Additionally, it tasks the Bank of Ghana, the nation’s central bank, to oversee the digital assets industry. It must focus on ensuring consumer protection, financial stability, and risk mitigation.
Dr. Johnson Asiama, Governor of the Bank of Ghana, highlighted that the legislation brings crypto-related activities “within clear, accountable, and well-governed boundaries.” The new law protects consumers from possible arrests or legal repercussions pertaining to their use of crypto. Meanwhile, it strictly mandates that companies offering crypto products and services obtain the necessary licenses and comply with regulators’ reporting guidelines.
The central bank plans to issue the guidelines centering on the registration and compliance mechanisms of the new law on digital assets and Virtual Asset Service Providers (VASPs) in the early part of 2026.
A Complete Pivot from the Unclear Rules on Digital Assets
The measure represented a complete turnaround from the Bank of Ghana’s dismissive yet confusing approach to digital assets. Over the years, its central bank has warned the public against using Bitcoin (BTC) and other cryptocurrencies, citing their inherent volatility and lack of regulation. It said these factors could expose users to financial losses.
The central bank also reminded people that cryptocurrencies are not legal tender. Hence, it advised banks and licensed financial institutions against custodying or processing transactions based on digital assets.
Despite these warnings, the government has generally shown a certain degree of tolerance over their use by the populace. As of the first half of the year, 17% of the country’s population has been utilizing crypto to access faster, cheaper, and more accessible payment and remittance rails. These undermined the products and services offered by traditional financial institutions in the area.
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