More than 3.1 million Ghanaians are using cryptocurrencies and other virtual assets, prompting the government to strengthen regulation to protect users and ensure safer transactions.

Minister for Communications, Digital Technology and Innovations, Samuel Nartey George, who disclosed this, said Ghana could no longer allow such a fast-growing financial sector to operate without proper oversight.

Speaking at the maiden African Virtual Assets Summit on November 2, 2026, organised by the Securities and Exchange Commission (SEC), the minister said Ghana ranked 29th globally in cryptocurrency adoption.

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“Ghana will not stand on the sidelines to watch this change unfold; we will regulate it to make it safe for our people,” he stated.

According to him, the growing number of cryptocurrency users makes it necessary for the government to introduce clear rules to protect investors and strengthen confidence in digital financial services.

“The memorandum for the Virtual Assets and Services Providers Act, 2025, Act 1154, states that Ghana ranks 29th in the world for cryptocurrency adoption, with about 3.1 million Ghanaians using these assets,” he explained.

He stressed that the government's decision to regulate cryptocurrencies was not intended to discourage innovation or prevent Ghanaians from using digital financial technologies.

“Activities on that scale cannot sit outside the law; they must be brought within the law, and that’s exactly what we have done in parliament by passing Act 1154,” he added.

Meanwhile, the Governor of the Bank of Ghana, Dr Johnson Asiama, said virtual assets could also help address challenges in accessing credit, particularly by creating new financing opportunities.

Deputy Director-General of the Securities and Exchange Commission, Mensah Thompson, also urged financial regulators to adopt new technologies and improve their approach to supervising the rapidly changing virtual asset market.

The summit brought together regulators and industry players to discuss how African countries could safely adopt digital financial technologies, strengthen oversight and reduce dependence on physical cash.

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The discussions come as Ghana works to establish a regulatory framework for virtual asset activities while encouraging innovation in the country's growing digital economy.

DR/MA

Ghana Has 3.1 Million Crypto Users, Ranks 29th Globally – Sam George