President John Dramani Mahama has signed the Virtual Asset Service Providers (VASP) Bill into law, bringing Ghana’s digital assets industry, including cryptocurrencies, under a formal regulatory regime.
The development marks a significant milestone in the country’s financial sector reforms and is intended to enhance investor protection, market integrity and confidence in the fast-growing digital finance space.
The announcement was made by Mensah Thompson, Deputy Director-General of the Securities and Exchange Commission (SEC), in a Facebook post following Parliament’s approval of the bill after extensive debate.
“The Bill, among other things, legalizes the usage, trading and provision of services in the virtual assets (including cryptocurrencies) space,” Mr Thompson stated. He congratulated the President, the Minister of Finance, the Governor of the Bank of Ghana and the Director-General of the SEC for their roles in steering the legislation to completion.
Under the new law, regulatory oversight of virtual asset service providers will be shared between the SEC and the Bank of Ghana, creating a comprehensive legal framework for activities within the digital financial ecosystem. The bill also benefited from the input and support of market operators, exchanges and technical teams from both the SEC and the central bank.
Mr Thompson noted the bipartisan backing the bill received in Parliament, describing it as a collaborative effort that aligns Ghana with global financial trends while promoting financial inclusion.
With the VASP law now in force, previously unregulated activities such as virtual asset trading, investment and service provision will be subject to legal supervision. Industry analysts believe the move will boost investor confidence and strengthen Ghana’s competitiveness in the evolving global digital economy.
The legislation forms part of Ghana’s broader agenda to modernise its financial system, encourage innovation and create a safe and transparent environment for both domestic and international digital finance participants, amid growing global interest in cryptocurrencies and digital assets.
