Accra: The Bank of Ghana has completed the drafting of the Virtual Asset Service Providers (VASP) Bill, marking a significant step towards establishing a comprehensive regulatory framework for virtual asset activities in Ghana. The initiative underscores the bank's commitment to regulating the burgeoning virtual asset sector in the country.
According to Ghana News Agency, the drafting of the bill involved collaboration with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC). The draft has undergone extensive reviews by industry groups, relevant state institutions, and international development partners. It is now moving through the necessary processes for consideration by Parliament.
In July 2025, the Bank conducted a mandatory registration exercise for all virtual asset service providers. This exercise provided updated baseline information on virtual asset activities in Ghana, offering valuable insights to guide the creation of a market-relevant regulatory framework.
The Bank has adopted a structured roadmap to guide the phased implementation of the framework and the operationalization of the forthcoming VASP Act. Immediate priorities include continued consultations with the Executive Arm of Government, the Legislature, and other stakeholders on the Draft Bill.
BoG also plans to launch a dedicated online portal to serve as a central source of information and compliance support for VASPs. Additionally, it will conduct nationwide awareness and engagement activities with the industry and the public, alongside preparatory measures to ensure a smooth rollout of the Act.
BoG remains committed to fostering a safe, transparent, and innovative virtual asset ecosystem that protects users, encourages responsible innovation, and safeguards the integrity of the financial system.