Ghana’s central bank is preparing to regulate cryptocurrency platforms by the end of September 2025, marking a significant step in the country’s approach to digital asset governance. The initiative was announced by Dr. Johnson Asiama, Governor of the Bank of Ghana (BoG), during the African Leaders and Partners Forum in Washington, D.C., held alongside the IMF/World Bank Spring Meetings.

Dr. Asiama revealed that the move is contingent on the passage of the Virtual Asset Providers Act, which is currently under legislative review. Once enacted, the law will empower the BoG to license and supervise virtual asset service providers operating in Ghana’s growing digital financial ecosystem.

“This is a technology we cannot prevent, hence the need to move fast to regulate it,” Dr. Asiama said, emphasizing the central bank’s commitment to proactive oversight.

To facilitate the new regulatory framework, the BoG is establishing a dedicated digital assets unit tasked with overseeing the cryptocurrency space and ensuring compliance with upcoming legislation.

Coordinated Efforts with the SEC
The Securities and Exchange Commission (SEC) of Ghana is also advancing its work on a complementary regulatory structure for the crypto industry. Speaking on PM Express Business Edition in March, SEC Director-General Dr. James Klutse confirmed that significant groundwork has been laid to align regulatory standards.

Ghana’s measured approach to digital assets dates back to 2018, when the BoG issued a public advisory warning against unregulated cryptocurrencies like Bitcoin. That notice emphasized caution for consumers and restricted financial institutions from engaging in related transactions.

Part of a Broader Economic Reform Agenda
Dr. Asiama contextualized the upcoming crypto regulation within a broader reform agenda aimed at enhancing macroeconomic stability and positioning Africa as a more influential global player. He highlighted key pillars of the BoG’s strategy, including inflation control, reserve building, and fiscal discipline.

“This is one of four key proposals from the Bank of Ghana on how to reshape US-Africa engagement,” Dr. Asiama noted.

The forum gathered leaders from Africa, the U.S., and Europe in finance, agriculture, and trade, with a shared goal of deepening investment ties and modernizing financial systems across the continent.

As central banks across Africa undertake bold reforms to enhance institutional credibility and mitigate emerging risks, Ghana’s crypto regulation plan stands as a crucial step toward a resilient, future-ready financial landscape.