President John Dramani Mahama has signed the Virtual Asset Service Providers (VASP) Bill into law, officially bringing Ghana’s digital assets sector, including cryptocurrencies, under a regulated framework. The move marks a major milestone in the country’s financial sector and is aimed at strengthening investor protection and market integrity.
The announcement was made in a statement shared on Facebook by Mensah Thompson, Deputy Director-General of the Securities and Exchange Commission (SEC), following Parliament’s approval of the bill after extensive deliberations.
“The Bill, among other things, legalizes the usage, trading and provision of services in the virtual assets (including cryptocurrencies) space,” Thompson wrote. He further congratulated key stakeholders, including the President, the Minister of Finance, the Governor of the Bank of Ghana, and the Director-General of the SEC, for advancing the legislation.
Under the new law, the SEC and the Bank of Ghana are expected to oversee and regulate virtual asset service providers, ensuring a robust legal framework for operations in the digital financial ecosystem. The legislation also received support from major market operators and exchanges, as well as technical contributions from staff of the SEC and the central bank.
Thompson highlighted the bipartisan support in Parliament and the collaborative effort of stakeholders, noting that the law brings Ghana closer to global financial trends and promotes financial inclusion.
With the VASP law now in force, activities in the virtual asset space that were previously unregulated, including trading, investment, and service provision, will fall under legal supervision. Analysts say this is likely to boost confidence among investors and strengthen Ghana’s position in the emerging global digital economy.
The enactment aligns with Ghana’s broader strategy to modernize its financial system, foster innovation, and provide a secure environment for both local and international digital finance participants.
This development comes at a time when global interest in cryptocurrencies and digital assets is rising, and countries are racing to implement regulatory frameworks to balance innovation with risk management.
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