🇬🇭🎯 GHANA LEGALIZES CRYPTO: A HISTORIC STEP FOR WEST AFRICA 🎯🇬🇭
The Ghanaian Parliament has approved the Virtual Asset Service Providers Bill 2025, officially legalizing cryptocurrency trading and providing a clear regulatory framework for virtual assets.
This law addresses the concerns of the Bank of Ghana (BoG) regarding the unregulated use of crypto, which has seen transactions exceeding 3 billion dollars annually without adequate oversight, exposing risks such as fraud and money laundering.
The BoG, in collaboration with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC), will gain powers to license and monitor exchange platforms, wallets, and service providers (VASPs), imposing KYC, AML/CFT, and tax reporting obligations.
Governor Johnson Asiama has clarified: "Trading virtual assets is now legal, no one will be arrested for crypto, but there is a framework to manage the risks."
This marks a policy shift after years of caution, with draft guidelines issued in August 2024 and plans for a dedicated office (VARO).
For West Africa, it formalizes mainstream adoption in emerging markets, promoting financial inclusion and fintech innovation without recognizing crypto as legal tender.
It could boost local tokenized RWA (Real World Assets) projects, attracting investments.
Implementation will begin in 2026 with licensing phases, balancing growth and stability.
