Ghana legalizes cryptocurrency trading with passage of new law

Dr Johnson Pandit Asiamah , the Governor of the Bank of Ghana, has made it clear that cryptocurrency trading has been legalized in Ghana after the passage of the Virtual Asset Service Providers Bill, 2025, into law.

He said that the new legislation, which is generally known as the crypto law, is going to provides a formal regulatory framework that will help supervise virtual asset activities and manage any kind of risks related with digital currencies.

Dr Asiamah said the move will surely end the lack of clarity about crypto transactions. This will also allow the authorities to make sure there is proper supervision and protection of consumers in the country.

During the time he was speaking at the annual Nine Lessons, Carols and Thanksgiving Service of the Bank of Ghana at the Bank Square in Accra on December 19, the he drew to attention that the law was an important step towards a stronger regulation and it will also improve supervision and a stronger financial system.

Dr Johnson Pandit Asiamah stated that “Effectively, virtual assets trading is now legal and no one is going to be arrested for doing crypto, but we now have the framework to manage the risks involved.”

He said the new law is going to empower the Bank of Ghana to license, supervise and monitor organizations that are working with digital assets. As per Dr Johnson Pandit Asiamah, during the time the regulation was absent, it exposed users to fraud, money laundering and systemic risks, which the new framework aims to tackle.

He also added that they are going to make sure that the systems are put in place to ensure transparency, accountability and ensures that all the rules are followed as the industry grows.

Dr Asiamah said the cryptocurrency law is also aimed to support innovation and expand financial inclusion, especially among young people and entrepreneur who are focused on technology.

He noted that “Many Ghanaians, especially the youth, were already actively involved in digital assets despite the previous legal uncertainty.”

READ:  GWC maintenance work at Weija work to temporarily cut water supply in 20 areas