By Prince Ahenkorah
The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has announced that Cryptocurrency trading has officially been legalised in Ghana following the passage of the Virtual Asset Service Providers Bill, 2025, into law.
The new legislation establishes a formal regulatory framework to supervise virtual asset activities and manage risks associated with digital currencies, effectively ending years of legal uncertainty surrounding cryptocurrency transactions in the country.
Dr Asiama made the announcement on December 19, 2025, at the annual Nine Lessons, Carols and Thanksgiving Service of the Bank of Ghana held at the Bank Square in Accra.
He described the law as a critical step toward stronger regulation, improved supervision and a more resilient financial system.
“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,” the Governor stated.
He stressed that the legalisation of cryptocurrency trading does not amount to a free-for-all, but rather introduces firm rules to protect consumers and safeguard the financial system. Under the new law, the Bank of Ghana is empowered to license, supervise and monitor entities operating in the digital asset space.
According to Dr Asiama, the absence of regulation in the past exposed users to fraud, money laundering and systemic risks, which the new framework seeks to address through enhanced oversight, transparency and accountability.
“What this means is that now we have the framework to manage it and to manage the risks that can involve that kind of activity,” he added.
Beyond risk management, the Governor said the law is also intended to support innovation and expand financial inclusion, particularly among young people and technology-driven entrepreneurs. He noted that many Ghanaians, especially the youth, had already been actively involved in digital asset trading despite the previous legal uncertainty.
By formalising the sector, Dr Asiama said Ghana can now harness the benefits of blockchain technology while limiting its downsides. He added that regulation would help attract credible investors and fintech firms, create jobs and support economic diversification.
“These are not just legal milestones; they are enablers of better policies, stronger supervision and more effective regulation,” he said, emphasising that innovation must thrive within a safe and well-governed financial environment.
Touching on financial stability, Dr Asiama noted that the crypto law, together with amendments to the Bank of Ghana Act, reflects lessons learned from past economic shocks, particularly the 2022 domestic debt exchange programme. He explained that the amendments strengthen the central bank’s independence, governance structures and operational safeguards.
“The amendments we have made ensure that the kind of debilitating actions we saw in 2022 will never happen again,” he said.
While welcoming the progress made, the Governor cautioned that risks have not disappeared and called for continued vigilance in an uncertain global economic environment.
He assured the public of the central bank’s commitment to maintaining stability while supporting innovation in the financial sector.