Government is targeting 2027 for the full rollout of Ghana virtual asset regulation, with the Bank of Ghana and the Securities and Exchange Commission working on the rules needed to bring the country’s fast-growing digital asset sector under formal supervision.
Governor of the Bank of Ghana, Dr Johnson Asiama, said both institutions are developing operational guidelines and policy sandboxes to support implementation of the Virtual Asset Service Providers Act, 2025, Act 1154.
“The operational guidelines are being developed by the designated regulatory authorities, i.e., the Bank of Ghana and the Securities and Exchange Commission, alongside the implementation of policy sandboxes by both institutions towards fully operationalizing the Act by 2027.” - Dr Asiama
Dr Asiama was speaking at the inauguration of the Virtual Assets Coordinating Committee, a new body expected to drive cooperation among institutions involved in regulating the sector.
Law Follows Rising Virtual Asset Use
The legislation follows concerns raised in Ghana’s 2024 national assessment on money laundering, terrorist financing and proliferation financing risks.
According to Dr Asiama, that assessment found significant use of virtual assets in Ghana as well as increasing connections between digital asset activity and the formal financial system.
“The report highlighted the urgent need for a legal and regulatory framework to govern the evolving virtual asset sector,” he said. “So, fast forward, we now have Act 1154 before us.”
The law gives regulators a framework to supervise service providers operating in areas such as digital asset trading and other related services.
BoG, SEC Build Operational Framework
The next stage is implementation.
The Bank of Ghana and SEC are working on detailed guidelines while testing policy sandboxes designed to give regulators a controlled environment for assessing new virtual asset products and business models.
The approach is meant to help authorities understand emerging risks without shutting the door on financial innovation.
Dr Asiama said the pace of change in digital finance means regulators cannot afford to wait.
“The pace at which virtual assets and digital finance are evolving globally, this leaves us little room for a passive approach,” he said.
The Virtual Assets Coordinating Committee is expected to play a central role in that process.
Its membership includes representatives from the Bank of Ghana, SEC, Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre. Other institutions may also be brought in where necessary.
“The inauguration of the virtual assets coordinating committee is therefore critical to the effective implementation of the Virtual Assets Providers Act 2025 Act 1154,” Dr Asiama said.
The committee will support coordinated supervision and information sharing across the agencies, rather than leaving different parts of the virtual asset ecosystem to be handled in isolation.
Regulation Must Not Kill Innovation
Dr Asiama stressed that the regulatory framework must address risks without suffocating innovation.
“Effective coordination, timely information sharing, and a shared commitment to safeguarding the integrity of our financial system, these will be essential if we are to build a virtual asset ecosystem, an ecosystem that is safe, an ecosystem that is well regulated, and an ecosystem that is supportive of innovation and inclusion.” - Dr Asiama
The committee will also help Ghana respond to concerns around money laundering, terrorist financing, cybersecurity and consumer protection.
For the central bank, the launch of the VACC marks a shift from simply having a law on the books to building the machinery needed to make it work.
“This inauguration this afternoon therefore marks an important transition from the enactment of the legislation to the establishment of an effective, coordinated, and sustainable virtual asset regulatory framework in Ghana.” - Dr Asiama
The target now is clear: by 2027, Ghana wants its virtual asset sector operating under a functioning regulatory system rather than in the grey areas that have characterised much of the market so far.
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