Ghana has formally legalised bitcoin and cryptocurrency trading after parliament passed the Virtual Asset Service Providers Bill, 2025.
The legislation ends years of regulatory uncertainty surrounding digital assets in the West African country.
The new law creates a clear legal framework for licensing, supervising and regulating crypto-related businesses.
Oversight authority has been granted to the Bank of Ghana.
Regulators said the framework prioritises consumer protection, financial stability and risk management.
Bank of Ghana Governor Dr Johnson Asiama announced the development in Accra over the weekend.
This legislation brings crypto activity within clear, accountable, and well-governed boundaries.
Johnson Asiama said.
Under the law, individuals will no longer face arrest or legal risk for trading cryptocurrencies.
Companies offering digital asset services must now apply for licences to operate legally.
Licensed firms will be required to meet reporting, compliance and ongoing supervisory standards.
Authorities said operators that fail to meet regulatory requirements could face sanctions or closure.
The central bank said the move addresses risks linked to fraud, money laundering and misuse of customer funds.
Officials acknowledged that crypto adoption has already reached significant levels nationwide.
Estimates suggest nearly three million Ghanaians have engaged in cryptocurrency transactions.
That figure represents roughly 17% of the country’s adult population.
Crypto transaction volumes in Ghana reached an estimated $3 billion in the year to June 2024.
The figures were provided by Web3 Africa Group.
Although smaller than Nigeria’s market, officials said the scale reflects strong everyday usage.
Digital assets are increasingly used for commerce, remittances and informal financial activity.
Asiama said regulation could reduce costs for banks and improve customer experience.
He added that small and medium-sized businesses may benefit from clearer payment and settlement options.
The central bank said a transparent rulebook could attract responsible investors and fintech firms.
Many exchanges and service providers had previously avoided Ghana due to legal uncertainty.
The Bank of Ghana said licensing and supervisory rules will be rolled out in phases during 2026.
Existing virtual asset service providers will be required to register under the new system.
Officials said lessons from the 2022 global crypto market downturn shaped the legislation.
Policymakers stressed the aim is regulation rather than prohibition.
Authorities said the goal is to ensure crypto growth does not undermine monetary policy or financial stability.
Ghana joins a growing list of African nations moving toward formal crypto regulation.
At the time of reporting, Bitcoin price was $87,494.05.