The Bank of Ghana (BoG) has officially confirmed that virtual asset trading, including cryptocurrency activities, is now legal in the country, assuring the public that individuals engaged in such transactions will not face arrest.
Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, made the announcement while speaking at the annual Nine Lessons, Carols and Thanksgiving Service held at the Bank Square in Accra on Friday December 19.
According to the Governor, the development follows the establishment of a regulatory framework that allows authorities to oversee the sector while managing the risks associated with virtual asset trading.
“Effectively, virtual assets trading is now legal and no one is going to be arrested for doing crypto, but we now have the framework to manage the risks involved,” Dr. Asiama stated.
He explained that the move goes beyond legal recognition, describing it as a critical step toward strengthening regulation and supervision within the financial sector.
“These are not just legal milestones; they are enablers of better policies, stronger supervision and more effective regulation,” he noted.
Dr. Asiama emphasised that while the new framework provides flexibility for innovation and growth, it also demands caution from both regulators and participants in the crypto space.
“The progress gives us room to move, but it also calls for responsibility and vigilance,” he added.
The Governor further stressed that the regulatory framework is designed to ensure that risks linked to virtual asset activities are properly managed, safeguarding the stability of the financial system while allowing digital finance to evolve within clear rules.
“What this means is that now we have the framework to manage it and to manage the risks that can involve that kind of activity,” he said.