Bank of Ghana Plans Virtual Asset Regulation with Draft VASP Bill

The Bank of Ghana (BoG) has made significant progress toward regulating the virtual asset sector by completing the draft of the Virtual Asset Service Providers (VASP) Bill, which is now moving through parliamentary processes. Developed in collaboration with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC), the bill aims to bring order to Ghana's fast-growing digital assets market by setting clear rules and protections against fraud and scams. A mandatory registration exercise conducted in July 2025 provided critical data to shape a regulatory framework that fosters innovation while safeguarding consumers. The BoG plans to implement the framework in phases, including launching an online portal for compliance support and continuing consultations with government stakeholders. The SEC also revealed plans to license and regulate various digital asset services, such as virtual asset dealing services and crypto exchanges, creating new opportunities for businesses and individuals in the sector. Overall, these efforts mark Ghana's commitment to creating a safe, transparent, and innovative virtual asset ecosystem aligned with international standards.