The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has hinted at plans to submit a regulatory framework for virtual assets, particularly cryptocurrency.

According to him, many Ghanaians have already engaged with such investment portfolios, making it untenable for the sector to continue operating without regulation.

Until now, economists and industry players have called on the central bank to regulate crypto assets, which are rapidly becoming a popular investment choice for many Ghanaians, especially the youth.

The governor noted that as part of efforts to embrace innovation and emerging trends, it is imperative to ensure proper regulation of the sector.

"That is why we are advancing our roadmap for regulating Virtual Asset Service Providers (VASPs), in line with global standards. With nearly 17 percent of Ghanaian adults already holding crypto assets, including strong adoption among youth, tech entrepreneurs, and women-led businesses, we cannot afford a regulatory vacuum," he said during his keynote speech at the 9th CEO Summit on May 26, 2025.

Dr Asiama added that, "The proposed framework will be submitted to Cabinet by September and will clarify oversight and collaboration roles between the SEC, the Bank of Ghana, and other relevant agencies."

He delivered the address on the topic, "Monetary Policy, Financial Stability and Innovation: Anchoring Ghana's Economic Reset for Sustainable Growth."

The governor also stated that the Bank is taking steps to operationalise Ghana’s Open Banking guidelines. This initiative will enable secure data sharing, drive financial innovation, and enhance consumer choice across financial services.

"Our AI and Data Analytics Office is already enhancing real-time risk monitoring, supporting monetary analysis, and improving financial surveillance. We are also embedding climate and ESG risks into our on-site supervision frameworks. Forward-looking supervision is our new regulatory standard, one that emphasises early risk identification, tech resilience, governance discipline, and macro-prudential coordination," he concluded.

SSD/MA

Removal of E-Levy will boost financial inclusion – BoG