Ghana passes bill to regulate crypto and its service providers

Parliament’s approval of the Virtual Asset Service Providers Bill gives regulators authority over crypto activities, ending years of policy ambiguity.
Ghana's dual-track approach to digital assets: developing the eCedi CBDC (delayed by economic crisis, relaunched via EMTECH hackathon, targeting 2025 launch) alongside a comprehensive crypto regulatory framework culminating in the VASP Bill passage in December 2025.
Ghana's dual-track approach to digital assets: developing the eCedi CBDC (delayed by economic crisis, relaunched via EMTECH hackathon, targeting 2025 launch) alongside a comprehensive crypto regulatory framework culminating in the VASP Bill passage in December 2025.

Parliament’s approval of the Virtual Asset Service Providers Bill gives regulators authority over crypto activities, ending years of policy ambiguity.

The BoG says it is merely looking to identify VASPs and not to issue a license just yet.

BoG claims Yellow Pay is offering digital payment services, crypto trading, and stablecoin-based remittances without proper licensing.

Ghana’s apex bank plans to establish a special crypto task force to enforce new crypto rules once they are passed

This follows a two-year delay despite a successful pilot program.

Ghana’s apex bank has also asked for input from members of the public while it moves closer to establishing digital asset rules.

With the eCedi CBDC, the Bank of Ghana hopes to stay relevant in an increasingly digital world. The CBDC is also created for financial inclusion.

The SEC’s Director-General said that the Commission formed the task force to help it develop the capacity to regulate crypto assets.

Despite a successful pilot, the launch has been delayed due to several factors, including economic concerns such as rising inflation and the depreciation of the cedi.