- Bank of Ghana to begin regulating cryptocurrencies and virtual asset platforms by September 2025.
- A dedicated digital assets unit will be established at the central bank to oversee the sector.
- This regulatory approach marks a shift from the Bank’s 2018 position cautioning against cryptocurrency use.
Dr. Johnson Asiama, Governor of the Bank of Ghana, has revealed plans to implement cryptocurrency regulations by September 2025. Speaking at the African Leaders and Partners Forum during the IMF/World Bank Spring Meetings in Washington, DC, Asiama confirmed that regulation of digital assets and virtual platforms will coincide with the expected passage of the Virtual Asset Providers Act.
“To enhance the regulation of these platforms and assets, the Bank of Ghana is establishing a dedicated unit focused on digital assets. This is a technology we cannot prevent, hence the need to move fast to regulate it,” Dr. Asiama explained during the forum hosted by the EBII Group.
Regulatory Framework Development
The forthcoming legislation will empower the central bank to license and supervise operations within Ghana’s growing digital asset industry. This regulatory initiative builds upon earlier progress reported in March by Dr. James Klutse Avedzi, Director-General of Ghana’s Securities and Exchange Commission (SEC), who indicated significant advancements in developing a crypto industry regulatory framework.
This new approach represents a notable shift from the Bank of Ghana’s position in 2018, when it warned Ghanaians against engaging with unregulated cryptocurrencies such as Bitcoin and advised financial institutions to avoid supporting crypto-related transactions.
Broader Economic Strategy
At the forum, Dr. Asiama emphasized economic credibility and policy independence as fundamental requirements for attracting global investment and transforming Africa‘s economic landscape. He outlined the Bank’s comprehensive strategy that includes inflation stabilization, reserve enhancement, and fiscal discipline enforcement.
The Governor highlighted that central banks across Africa are implementing substantial reforms aimed at boosting transparency, operational independence, and public trust. He stressed the importance of building resilient financial systems with robust risk management frameworks to attract long-term investment while reducing vulnerability to economic disruptions.
The Bank of Ghana’s approach to cryptocurrency regulation reflects a growing recognition among African financial authorities that digital assets require formal oversight rather than prohibition. By creating specialized regulatory infrastructure, Ghana aims to protect consumers while fostering innovation in the financial technology sector.
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