Ghana Legalizes Crypto Trading With Regulatory Framework
Ghana's parliament passed the VIRTUAL Asset Service Providers Bill into law, ending years of legal ambiguity for digital asset traders. The move establishes Bank of Ghana oversight for licensing and monitoring crypto businesses, targeting risks like fraud and money laundering.
Governor Johnson Asiama emphasized this isn't unconditional approval—the central bank now maintains surveillance powers over exchanges and trading activity. The law follows rapid crypto adoption in West Africa's second-largest economy, where peer-to-peer Bitcoin trading volumes consistently rank among Africa's highest.
Regulators aim to balance innovation with consumer protections, mirroring approaches seen in Nigeria and South Africa. No specific cryptocurrencies were named in the legislation, leaving room for future policy adjustments as the market evolves.
