Crypto In Ghana: Lawmakers Race To Write Rules Before December

Ghana’s central bank says it expects to have a law to regulate cryptocurrencies and other virtual assets in place by the end of December.

The plan grew louder this week after Bank of Ghana Governor Johnson Asiama spoke about moving a bill to parliament and building a unit inside the bank to oversee digital asset activity.

According to officials, the aim is to bring trading, wallets and other virtual-asset services under clear rules before year-end.

Registration Push For Service Providers

Reports have disclosed that the Bank of Ghana already began telling companies to sign up as it prepares formal licensing.

Virtual Asset Service Providers — that means exchanges, wallet firms and payment outfits that use crypto — were given a deadline to register with the central bank by August 15, 2025, as a first step toward full oversight.

That deadline is part of the central bank’s effort to map who is operating inside the country and to collect basic information ahead of tougher rules.

Ghana’s push comes after a steady rise in crypto use. Based on reports, about 3 million adults in the country now use digital assets, equal to roughly 17% of the population.

Annual transaction volumes tied to crypto were put at around $3 billion for a recent 12-month stretch. Officials say that level of activity makes it harder for monetary authorities to track money flows and for tax agencies to capture revenue.

Building A New Oversight Team

But the central bank faces practical limits. Sources report the regulator has not yet fully staffed the enforcement and supervision unit it needs to monitor VASPs and apply new rules.

Setting up that capacity — hiring people, building systems, and coordinating with other agencies — is being treated as a parallel task while the bill moves through parliament. This gap in staff and tools is one reason some analysts think the December target is ambitious.

Drafts circulating in media accounts indicate the law would give the Bank of Ghana powers to license service providers and to require anti-money-laundering controls, reporting and consumer protections.

The final text, once submitted to lawmakers, could also spell out which regulators share oversight. Based on reports, the parliament submission was expected in the months leading up to December.

Market players and users will watch three things closely: whether parliament approves the bill before the bank’s deadline, how strict the licensing rules will be, and how quickly the bank can staff its new unit.

If the law arrives on schedule, exchanges and payment firms will need to apply for licenses and meet compliance checks. If delays happen, companies may face uncertainty about whether to keep operating or to adjust business plans.

Featured image from African Adventures, chart from TradingView