The Bank of Ghana (BoG) is set to roll out guidelines for virtual assets, including cryptocurrency, to support the licensing and regulation of businesses operating in the sector.
Governor of the Bank of Ghana, Dr Johnson Asiama, said the guidelines will provide the framework needed for the central bank to begin issuing licences to eligible virtual asset service providers.
He said although the sector carries significant risks, Ghana cannot afford to ignore its growing influence.
“Even though it is a very risky area, we just can not sit and ignore it; that is why we have put in place the necessary regulations, so we can protect Ghanaians”
Dr Asiama said previous attempts to overlook cryptocurrency had not stopped its use and adoption.
“We have in the past pretended that cryptocurrency does not exist, but the truth is that it goes on whether you like it or not”
He said this makes it necessary for appropriate laws and regulations to guide activities within the sector and protect users.
The move follows the Bank of Ghana’s inauguration of the Virtual Assets Coordinating Committee last month.
The committee provides a statutory platform for coordinated regulatory and supervisory action among relevant institutions under the Virtual Assets Service Providers Act, 2025 (Act 1154).
It comprises representatives from institutions involved in financial regulation, security and economic policy.
The Bank of Ghana is represented by Elhanan Owureku Asare and Philip Kwaw Sebuabe, while the Securities and Exchange Commission (SEC) is represented by Emmanuel Mensah Thompson and Richard Kwame Dusi.
The development forms part of efforts to establish a coordinated regulatory framework for Ghana’s growing virtual assets sector.
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