Ghana has officially legalized crypto assets through a law on virtual asset service providers, empowering the Central Bank with oversight and licensing powers to control risk and foster innovation.
Ghana has officially legalized cryptocurrency trading through the passage and enactment of the Virtual Asset Service Provider Act by Parliament. According to the Governor of the Central Bank of Ghana, Johnson Asiama, this law establishes a comprehensive legal framework to regulate the rapidly growing cryptocurrency industry in this West African nation.
Speaking at the Central Bank of Ghana's annual Thanksgiving event on Friday, Mr. Asiama affirmed that trading in virtual assets is now fully legal and no one will be prosecuted for engaging in crypto-based activities. However, he stressed that a legal framework is now in place to manage the risks associated with this activity.
The timing of the law's enactment aligns with the central bank's previously announced roadmap, as Mr. Asiama stated Ghana aims to introduce a legal framework for cryptocurrencies by the end of 2025. This move marks a significant shift from a cautious to a proactive approach in regulating the digital asset industry.
The central bank holds the power to license and supervise.
Under the new law, the Central Bank of Ghana becomes the primary regulator of crypto asset activities, with the authority to license and supervise crypto asset service providers. This act is designed to enhance consumer protection against fraud, money laundering, and systemic risks, while eliminating uncertainty regarding the legal status of crypto assets.
Mr. Asiama emphasized that these are not just legal milestones but also factors that will drive better policies, stricter supervision, and more effective governance mechanisms. The new legal framework allows central banks to control potential risks arising from cryptocurrency activities while still encouraging the industry's growth.
The Governor also emphasized that the law on crypto assets is designed to support innovation and expand financial inclusion in Ghana, particularly targeting young people and tech-oriented entrepreneurs. This objective reflects the government's recognition of the crucial Vai of digital assets in driving economic growth and technological innovation.
Ghana is emerging as one of the most important cryptocurrency markets in the Sub-Saharan Africa region. According to Chainalysis' Crypto Geography 2025 report, Ghana is among the top five countries in the region in terms of total cryptocurrency value received between July 2024 and June 2025.
Nigeria continues to dominate the region with at least $92 billion worth of cryptocurrency received, nearly three times more than South Africa. The total value of on- chain transactions across the Sub-Saharan Africa region reached over $205 billion, an increase of approximately 52% year-on-year. This impressive growth makes the region the third fastest-growing market in the world, after Asia-Pacific and Latin America.
With its new legal framework, Ghana is positioning itself as a trusted cryptocurrency hub in Africa, balancing the encouragement of innovation with ensuring consumer security and financial system stability.
