The Bank of Ghana ("BoG") and the Securities and Exchange Commission('SEC") have noted with concern the increasing advertisement of virtual asset and stablecoin products, including the use of large billboards in Accra and other parts of the country by certain Virtual Asset Service Providers (VASPs).

According to the Central Bank, all VASPs, including those operating within the BoG and SEC sandbox, are hereby directed to refrain from mass marketing or public promotional campaigns on virtual assets, unless expressly authorised by the BoG and SEC.

Furthermore, virtual asset advocacy is a regulated activity under the Virtual Asset Service Providers Act, 2025 (Act 1154), and requires registration with the BOG and SEC.

The Central Bank added detailed rules on advocacy and advertisements will be issued in due course.

The Act further provides for transitional arrangements for existing VASPs to apply for licensing or registration once the regime becomes operational.

The Central Bank concluded This notice is to caution VASPs who have mounted billboards and other forms of public advertisement to take them down within 48 hours of the date of this notice. Failure to comply will result in severe sanctions against the offending service providers.