The Governor of the Bank of Ghana, Dr Johnson Asiama, has announced that the central bank will begin regulating cryptocurrencies and virtual asset platforms by the end of September 2025.

Speaking at the African Leaders and Partners Forum, hosted by the EBII Group during the IMF/World Bank Spring Meetings in Washington, DC, Dr Asiama said the initiative is tied to the anticipated 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 revealed.

The new law will authorize the Bank of Ghana to license and oversee operations within the digital asset sector.

In a related development, Director-General of Ghana’s Securities and Exchange Commission (SEC), Dr James Klutse Avedzi, shared in March this year said that the Commission had made significant headway in crafting a regulatory framework for the crypto industry.

This marks a departure from the Bank’s 2018 stance, when it cautioned the public against dealing in unregulated cryptocurrencies like Bitcoin and advised financial institutions not to support crypto-based transactions.

During the forum, Dr Asiama emphasised the need for economic credibility and policy independence as crucial pillars for attracting global investment and redefining Africa’s economic trajectory.

He also outlined the Bank’s broader strategy, which includes stabilising inflation, boosting reserves, and enforcing fiscal discipline.

He mentioned that central banks across Africa are pursuing robust reforms aimed at enhancing transparency, operational independence, and trust.

He also underscored the importance of building a resilient financial system and strengthening risk management frameworks to attract long-term investment and reduce exposure to economic shocks.

SP/MA

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