ACCRA – The Bank of Ghana (BoG) has announced significant progress in establishing a comprehensive regulatory framework for virtual asset activities in the country, unveiling a structured roadmap that includes the drafting of the Virtual Asset Service Providers (VASP) Bill.
Developed in collaboration with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC), the draft Bill has undergone extensive review by industry groups, state institutions, and international development partners. It is now set to move through the legislative process for parliamentary consideration.
In July 2025, the central bank conducted a mandatory registration exercise for all virtual asset service providers (VASPs), which provided updated baseline data on the sector. The findings are expected to guide the creation of a regulatory framework that is “both market-relevant and fit for purpose,” the Bank said in a press release.
Looking ahead, the BoG has outlined a phased approach to implementing the new framework once the VASP Act is passed. Priorities include ongoing consultations with government stakeholders, the launch of a dedicated online portal for compliance and information support, and national awareness campaigns to ensure smooth industry adoption.
The Bank emphasized that the initiative is aimed at fostering a safe, transparent, and innovative virtual asset ecosystem that protects users, encourages responsible innovation, and safeguards the integrity of Ghana’s financial system.
The VASP Bill marks Ghana’s most comprehensive step yet toward regulating the fast-growing digital asset industry, aligning with global trends in financial oversight.
Source: citinewsroom.com
