Audio By Carbonatix
The Securities and Exchange Commission (SEC) says Ghana’s newly enacted Virtual Asset Service Providers (VASP) Bill addresses existing gaps in the country’s digital asset ecosystem, providing a comprehensive framework for the use and regulation of cryptocurrencies.
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.
Speaking on the legislation, the Deputy Director-General of the SEC, Mensah Thompson, said the law was designed to legalise virtual asset transactions while ensuring transparency, financial stability, and investor protection.
“We spent over a year developing a legal framework that properly addresses the dynamics of the virtual asset space. This is one of the most consultative bills the government has ever passed,” he noted in an interview on JoyNews' The Pulse on Tuesday.
Mr Thompson explained that the SEC, in collaboration with the Bank of Ghana, Financial Intelligence Centre, Cyber Security Authority, Ministry of Finance, and Ghana Revenue Authority, conducted extensive consultations with stakeholders, including market operators and financial institutions, to craft the legislation.
“Stakeholders helped identify loopholes, guided the drafting process, and ensured that the law supports both innovation and financial stability,” he said.
The Virtual Asset Bill comes amid a surge in cryptocurrency activity in Ghana, with transactions exceeding $10 billion as of November 2025. The law aims to regulate trading, provide real-time visibility of crypto use, and safeguard the financial system against risks associated with unregulated digital assets.
“The country is overexposed to crypto assets. By creating this framework, we are enabling the use of virtual assets in a safe and regulated manner,” Mr Thompson added.
The SEC emphasised that the law is not intended to stifle innovation, but rather to encourage responsible adoption of cryptocurrencies while closing gaps that could be exploited for fraud or financial instability.
Latest Stories
-
The journey of hope
47 minutes -
5G launch in Ghana will be a national rollout for all networks – Sam George
51 minutes -
Independence Day should mark shift from stability to transformation – United Party
1 hour -
How schools in Old Tafo, Kumasi showcased vibrant traditional regalia to preserve cultural heritage
1 hour -
69 Years on, Ghana has a long way to go — Asamoah Boateng
1 hour -
President Mahama commissions Olam Agri pasta facility, driving local production and job creation
2 hours -
Ghana to push UN motion declaring slavery a grave crime – Mahama
2 hours -
Minority calls for stronger maritime security, protection for Ghanaians abroad
2 hours -
Minority raises alarm over farmers’ crisis, galamsey in Independence Day statement
2 hours -
Government pledges to make housing affordable for all Ghanaians
2 hours -
Minority demands reinstatement of over 1,500 public workers dismissed after 2025 change of government
2 hours -
Ghana @ 69: Africa Prosperity Network hosts high-level webinar on continent’s integration ahead of 2028 deadline
2 hours -
Mahama urges youth to harness technology for national development
3 hours -
Mahama pledges to serve with integrity as Ghana marks 69 years of independence
3 hours -
Two shot dead, one in critical condition at Sawla hospital
3 hours