The Bank of Ghana Governor, Dr Johnson Asiama, has called for stronger and more coordinated oversight of Ghana’s virtual asset sector to safeguard financial stability, protect consumers and address emerging risks.

Speaking at the inauguration of the Virtual Assets Coordinating Committee, Dr Asiama said the rapid evolution of virtual assets and digital finance leaves regulators with little room for a passive approach.

He said the committee would provide the statutory platform for coordinated regulatory and supervisory action among relevant institutions under the Virtual Assets Service Providers Act, 2025 (Act 1154).

“The pace at which virtual assets and digital finance are evolving globally leaves us little room for a passive approach,” Dr Asiama said.

He stressed the need for effective coordination, timely information sharing and a shared commitment among regulatory institutions to safeguard the integrity of Ghana’s financial system.

According to him, the committee will facilitate the harmonised implementation of the Act and its subsidiary regulatory instruments, while strengthening information sharing and inter-agency cooperation.

It will also support coordinated responses to emerging risks, including *money laundering, terrorist financing, cybersecurity and consumer protection*.

Dr Asiama noted that the multi-faceted nature of virtual assets requires close coordination not only among domestic regulators and competent authorities but also with foreign counterparts and governments.

Committee Membership

The committee comprises representatives from key institutions involved in financial regulation, security and economic policy.

The Bank of Ghana is represented by Elhanan Owureku Asare and Philip Kwaw Sebuabe, while the Securities and Exchange Commission (SEC) is represented by Emmanuel Mensah Thompson and  Richard Kwame Dusi.