Bank of Ghana Moves to Regulate Cryptocurrency Industry

In a bold move to bring oversight to the fast-growing digital asset space, the Bank of Ghana (BoG) has released a draft regulatory framework for Virtual Asset Service Providers (VASPs). The document outlines rules for licensing, operations, consumer protection, anti-money laundering compliance, and cybersecurity standards.

The central bank stated that the regulation aims to protect users, encourage responsible innovation, and combat financial crimes in the virtual currency space. The proposed framework aligns with global standards set by the Financial Action Task Force (FATF).

Crypto stakeholders, fintech associations, and the general public have until August 30, 2025, to submit feedback. If adopted, Ghana would become one of the first countries in West Africa to fully regulate crypto operations.