The Chamber of Digital Assets and Blockchain Innovation Ghana (CDABI-GH) has praised regulators and Parliament for passing the Virtual Asset Service Providers Bill, describing it as a major milestone that brings clarity and credibility to the country’s digital asset ecosystem.
In a statement issued in Accra on December 23, 2025, the Chamber said the new law provides a clear signal that while Ghana is open to innovation, it remains equally committed to responsibility, consumer protection and market discipline.
Parliament passed the legislation on December 19, 2025, with Bank of Ghana (BoG) Governor Dr. Johnson Asiama announcing the development during the central bank’s annual Nine Lessons, Carols and Thanksgiving Service. The law now awaits presidential assent before taking full effect.
According to CDABI-GH, the legislation marks Ghana’s transition from regulatory uncertainty to a structured and supervised digital asset environment. The Chamber praised the Governor and the Virtual Asset Service Provider (VASP) policy and technical teams, as well as the Director General of the Securities and Exchange Commission (SEC) and Commission officials, for what it described as their discipline, foresight and commitment to national interest.
The Chamber stated that the work of regulators had transformed a complex and fast moving frontier into a governed, credible and investable ecosystem. CDABI-GH characterized the legislation as more than a law, calling it a signal to innovators that Ghana is open, to investors that Ghana is safe, and to citizens that Ghana is protected.
The Chamber commended Parliament for passing the legislation without undue delay, noting that the decision reflects a preference for thoughtful regulation over hesitation. According to the statement, the move positions Ghana to shape its digital finance future rather than react to developments elsewhere.
Ghana’s digital asset market has grown substantially despite regulatory uncertainty. Approximately three million Ghanaians, representing roughly 17 percent of the adult population, already use cryptocurrencies. Transaction data shows crypto activity in Ghana reached approximately three billion dollars in the year through June 2024.
The absence of a comprehensive legal framework had raised concerns about consumer protection, market integrity and regulatory oversight. Industry players and regulators have repeatedly highlighted the need for clear rules to guide innovation while managing associated risks.
The new law establishes a dual regulator model, with the Bank of Ghana and the Securities and Exchange Commission sharing oversight responsibilities. All individuals and entities engaged in virtual asset activities will be required to obtain a licence or registration from either the BoG or SEC, depending on the nature of their services.
Governor Asiama confirmed that virtual asset trading is now legal and no one will be arrested for engaging in cryptocurrency activities. However, companies offering digital asset services must obtain licenses, comply with reporting requirements and submit to ongoing supervision.
The Bank of Ghana plans to implement licensing and supervisory rules in phases throughout 2026. Regulatory instruments and detailed guidelines are expected in early 2026, giving firms time to prepare for compliance. Existing virtual asset service providers will need to register and meet compliance standards to continue operating.
At the National Virtual Asset Literacy Program on December 22, 2025, SEC Deputy Director General Mensah Thompson detailed that licensing requirements extend to public figures and online promoters. He stated that no one will be allowed to offer advice on crypto performance without authorization, with law enforcement agencies prepared to arrest violators and apply sanctions.
CDABI-GH said the new law addresses longstanding concerns by providing certainty for market participants and strengthening confidence among local and international investors. It added that the framework is expected to support sustainable growth of the sector by balancing innovation with accountability.
The Chamber pledged its support to the Bank of Ghana and the Securities and Exchange Commission during implementation. It said its role will include promoting compliance, building capacity within the industry, educating market participants and supporting responsible innovation across the digital asset ecosystem.
Ghana now joins countries like South Africa and Nigeria in moving toward structured oversight of digital assets. According to Chainalysis’ 2025 Geography of Cryptocurrency Report, Ghana ranks among the top five Sub-Saharan African countries by total crypto value received between July 2024 and June 2025.
CDABI-GH had previously engaged with the BoG in July 2025 at The Bank Square in Accra, where Governor Asiama assured the Chamber of inclusion in future stakeholder forums. Those consultations contributed to finalizing the regulatory framework that has now become law.
According to CDABI-GH, the passage of the Virtual Asset law represents a defining moment in Ghana’s digital development, laying the foundation for a more mature, trusted and well regulated digital asset market aligned with broader financial sector stability and economic growth objectives.