More than 3.1 million people are now using virtual assets in Ghana, including cryptocurrencies, according to Communications and Digital Technology Minister Samuel Nartey George.
Speaking at the maiden African Virtual Assets Summit in Accra, Hon. George said the size of the market made regulation necessary, but insisted government was not seeking to suppress innovation.
“Ghana will not stand on the sidelines to watch this change unfold; we will regulate it to make it safe for our people,” he said.
He cited the memorandum accompanying the Virtual Asset Service Providers Act, 2025, Act 1154, which places Ghana 29th globally for cryptocurrency adoption and estimates about 3.1 million users.
“Activities on that scale cannot sit outside the law; they must be brought within the law,” Hon. George said.
New Law Brings Sector Under Regulation
Act 1154 established a formal regulatory framework for virtual asset activities, with the Bank of Ghana and Securities and Exchange Commission given responsibilities for licensing, supervision and enforcement.
The framework is intended to address risks including fraud, money laundering, cyber threats and market instability while allowing responsible innovation to continue.
The summit, organised by the Securities and Exchange Commission and its partners, brought together regulators and industry participants to discuss the growing role of digital assets in African financial systems.
BoG Sees Potential for Credit Access
Bank of Ghana Governor Dr Johnson Asiama said virtual assets could also play a role in addressing long-standing problems around access to credit.
SEC Deputy Director-General Mensah Thompson urged regulators to keep pace with technological changes as virtual asset markets become increasingly sophisticated.
The discussions come as Ghana moves from largely informal cryptocurrency activity towards a regulated digital asset market with clearer rules for businesses and users.
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