Bank of Ghana to Introduce Crypto Regulation by December 2025

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The Bank of Ghana (BoG) revealed that it plans to launch a sweeping regulatory framework for cryptocurrencies and other virtual assets by December 2025. The announcement was made by BoG Governor Johnson Asiama during the International Monetary Fund and World Bank Annual Meetings, held in Washington, D.C, from October 17 to October 20. This marks a major shift in Ghana’s approach to virtual assets, moving toward more active integration.

Ghana remains a key hub for cryptocurrency use in Sub-Saharan Africa, with around three million Ghanaians—approximately 9 % of the population—estimated to have made crypto transactions totaling more than US$3 billion between July 2023 and June 2024. New regulations are becoming necessary due to the growing use of digital assets for remittances in the country and as a hedge against the volatility of the Ghanaian cedi.

Under the planned law, virtual-asset service providers will face new licensing requirements, enhanced Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) obligations, and ongoing monitoring.

Although the BoG has committed to presenting a virtual assets bill to Parliament by December 2025, the country nonetheless faces the hurdle of building an enforcement team from scratch. 

Ghana’s move—along with similar steps in South Africa, Nigeria, and Kenya — indicates a broader shift toward regulated virtual asset landscapes throughout Africa. Ghana is also reported to be reviewing an e-cedi digital currency.