Ghana Accelerates Cryptocurrency Regulatory Framework Ahead of Deadline

Ghana's central bank is fast-tracking legislation to regulate cryptocurrencies and VIRTUAL assets, targeting a December implementation. Bank of Ghana Governor Johnson Asiama confirmed plans to introduce a parliamentary bill and establish a dedicated oversight unit. The move aims to bring crypto trading, wallets, and related services under formal supervision by year-end.

Authorities have initiated a registration drive for Virtual Asset Service Providers, including exchanges and wallet operators, with an August 2025 deadline for compliance. This preliminary measure seeks to map industry participants before enforcing stricter regulations. The push follows explosive growth in Ghana's crypto adoption—reports indicate 17% of adults now use digital assets, with annual transaction volumes reaching $3 billion.

Officials cite concerns over monetary policy implementation and tax collection as key drivers for regulation. The framework's development reflects growing institutional recognition of crypto's economic footprint in emerging markets.