Bank of Ghana to Regulate Crypto by September—Here’s What It Means

The Bank of Ghana (BoG) is gearing up to introduce a formal regulatory framework for cryptocurrencies and digital asset platforms by September 2025, Governor Dr. Johnson Asiama has announced.

Speaking at the African Leaders and Partners Forum organized by the EBII Group during the IMF/World Bank Spring Meetings in Washington, D.C., Dr. Asiama revealed that the move hinges on the passage of the upcoming Virtual Asset Providers Act.

This new legislation will give BoG the legal power to license and monitor cryptocurrency exchanges and service providers operating in the country.

“To enhance regulation of these platforms and assets, the Bank of Ghana is establishing a dedicated digital assets unit,” Dr. Asiama said. “This is a technology we cannot prevent, hence the need to move fast to regulate it.”

Ghana’s central bank had previously taken a cautious stance on cryptocurrencies. In January 2018, the BoG issued a public notice warning citizens that virtual currencies like Bitcoin were not recognized under Ghanaian law, urging financial institutions to steer clear of crypto-related transactions.

Now, with global adoption of digital assets rising and financial technologies evolving, BoG is changing course—aiming to balance innovation with financial stability and consumer protection.

The regulatory shift also aligns with ongoing efforts by the Securities and Exchange Commission (SEC). In March, SEC Director-General Dr. James Klutse stated on PM Express Business Edition that the commission was making strong progress in developing a regulatory framework for crypto in Ghana.

This coordinated push is part of a broader strategy to modernize Ghana’s financial landscape, encourage innovation, and better position the country within the global economy.

At the forum, Dr. Asiama emphasized that the regulation of digital assets is just one of four major proposals BoG is promoting to reshape Africa’s engagement with the U.S. and the global market. He pointed to initiatives to stabilize inflation, grow foreign reserves, and strengthen fiscal discipline.

“Across Africa, central banks are embracing reforms to boost transparency and build macroeconomic credibility,” he added.

The governor also underscored the importance of financial system resilience and risk management as key tools for attracting long-term investments into the continent.

With the crypto space expanding rapidly, Ghana’s move to bring clarity, control, and consumer protection to the market is being welcomed by financial experts and tech entrepreneurs alike.