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Ghana’s new law legalise cryptocurrency

Ghana’s new law legalise cryptocurrency



Ghana’s Parliament has taken a step in digital finance by passing a new law that legalises and regulates cryptocurrency trading and related activities nationwide.

The legislation, known as the Virtual Asset Service Providers (VASP) Bill, 2025, transforms the country’s previously informal and unregulated digital asset market into a formal, licensed sector under central-bank oversight.

The Bank of Ghana (BoG) has been empowered as the principal regulator of the sector. It will now license and supervise virtual asset service providers, including crypto exchanges, wallet operators, brokers and other related businesses.

The law also gives the central bank authority to enforce compliance with consumer protection, anti-money-laundering (AML), and financial-crime prevention standards.

Under the new legal framework, cryptocurrency transactions are officially recognised as legal in Ghana which means individuals can buy, sell and trade digital assets such as Bitcoin and Ethereum without fear of arrest or legal ambiguity.

Read also: Crypto liquidation hits $583m as Bitcoin slides to $86,000

The law does not make cryptocurrencies legal tender, but it does define clear rules for how virtual assets can be exchanged, offered, or managed.

Johnson Asiama, governor of Bank of Ghana announced the development at the bank’s annual “Nine Lessons, Carols and Thanksgiving Service” in Accra, stating that the regulatory framework is designed to manage risks associated with digital assets while supporting innovation and financial inclusion.

“Effectively, virtual assets trading is now legal and no one is going to be arrested for doing crypto,” Asiama said, noting that the new law brings clarity and accountability to a market that has long operated in a grey area.

A key focus of the legislation is consumer protection and financial stability.

Ghanaian authorities note that rapid crypto adoption with an estimated millions of people engaging in digital asset transactions has previously exposed users to fraud, scams, and other risks due to the absence of regulatory safeguards.

The law introduces licensing procedures, reporting requirements, and ongoing oversight to better shield users and the financial system.

Folake Balogun is a renowned tech journalist who offers insightful and critical analysis of the African rapidly growing digital economy, particularly within Nigeria. She closely monitors the health of the African startup ecosystem by covering significant venture capital trends, investment deals, and the challenges faced by emerging firms. Known for her deep dives into the fintech sector, she covers the evolution of digital payments, dynamics of major financial innovations and also extends to emerging technologies such as Artificial Intelligence (AI) and the future of connectivity by providing context to their economic and social impact.



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