The Bank of Ghana is finalizing a regulatory framework for cryptocurrency platforms and other Virtual Asset Service Providers (VASPs), Governor Dr. Johnson Asiama has announced.
Addressing stakeholders at the Graphic Business/Stanbic Bank Breakfast Meeting, Dr. Asiama said the rapid growth of digital assets demands regulatory clarity to manage emerging risks in the financial system.
“…Crypto is like the air we breathe — you can’t stop it. So let’s regulate it properly,” he stated. “We are working on a framework that aligns with our Anti-Money Laundering and Financial Stability mandates.”
According to the Governor, the BoG has engaged with key institutions including the Financial Intelligence Centre (FIC) and the Ministry of Finance to build a coordinated oversight structure.
The proposed regulations will define licensing requirements, operational standards, and anti-abuse mechanisms for crypto exchanges operating in Ghana.
Dr. Asiama emphasized that the Bank is not anti-innovation, but seeks to ensure that digital financial products do not undermine confidence in the monetary system or become channels for illicit finance.
“Crypto is here. The question is: how do we manage it, not whether to ban it,” he said.
This development positions Ghana among the few African nations taking proactive steps to regulate the crypto industry while maintaining space for innovation and growth in the fintech sector.
Source: GraphicOnline