Bank of Ghana to Launch Cryptocurrency Regulation by September 2025
The Bank of Ghana (BoG) is preparing to regulate cryptocurrency and related platforms by the end of September 2025, as announced by Governor Dr. Johnson Asiama at the African Leaders and Partners Forum in Washington, D.C. This move aims to bring oversight to the rapidly growing crypto space in Ghana and better protect users and the financial system.
The regulation is contingent upon the passage of the Virtual Asset Providers Act, which will grant the BoG the legal authority to license and oversee crypto platforms. To facilitate this, a new digital assets unit is being established within the central bank.
“This is a technology we cannot prevent, hence the need to move fast to regulate it,” Dr. Asiama emphasized. The Securities and Exchange Commission (SEC) is also working on crypto regulations, having made significant progress toward building a regulatory framework as of March this year.
This development follows the BoG’s 2018 warning that cryptocurrencies like Bitcoin were not recognized under Ghanaian law. Dr. Asiama views crypto regulation as part of a broader effort to boost investor confidence and reposition Africa in the global economy. The BoG is concurrently pushing policies to reduce inflation, build reserves, and improve fiscal discipline.
Central banks across Africa are pursuing transparency and bold reforms to attract productive capital flows. The next steps include Parliament passing the Virtual Asset Providers Act, after which the BoG and SEC will coordinate to launch a regulatory regime before the fourth quarter of 2025.
As Dr. Asiama noted, “To enhance the regulation of these platforms and assets, the Bank of Ghana is establishing a dedicated unit focused on digital assets.” This move signals a significant shift in Ghana’s approach to cryptocurrency regulation and oversight.
