Ghana has taken a bold step in the world of digital finance by legalizing cryptocurrency through the Virtual Asset Service Providers Bill.
The new law introduces a licensing system for crypto platforms and establishes oversight to ensure transparency and accountability in the fast-growing sector.
Bank of Ghana Governor, Johnson Asiama, emphasized that regulation will bring emerging activity within clear, accountable, and well-governed boundaries.
He added that it will reduce banking costs, improve customer experiences, and support small and medium-sized businesses.
The move comes as nearly 3 million Ghanaians—about 17% of adults—are engaged in crypto transactions, totaling an estimated $3 billion by mid-2024.
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While still smaller than Nigeria’s $59 billion in crypto dealings, Ghana’s decision reflects a growing recognition of digital assets as part of the country’s financial ecosystem.
As digital currencies continue to expand, Ghana positions itself as a leading market for regulated crypto in Africa.