Ghana’s 2025 crypto law aims to curb fraud and market risks

Ghana has introduced a new crypto law as regulators move to bring faster oversight to the country’s growing digital asset market.

The Virtual Asset Service Providers Act of 2025 sets out licensing rules and supervision requirements for firms operating in the crypto sector.

Regulators said the law aims to protect investors while reducing risks linked to fraud, illicit finance and weak market controls.

The measure also seeks to align Ghana with global standards on anti-money laundering and counter-terrorism financing.

Ghana’s 2025 Financial Stability Review said more than 3 million people in the country now use cryptocurrencies.

The report said adoption has been driven by interest in alternative investments, cross-border payments and digital financial services.

“The rapid expansion in the use of cryptocurrencies presents both opportunities and risks, including potential challenges for anti-money laundering and counter-terrorism financing compliance,”

the report said.

Regulators warned that unchecked crypto growth could expose Ghana’s financial system to scams, illegal money flows and pressure on the exchange rate.

The Securities and Exchange Commission and the Bank of Ghana are now preparing rules for licensing, governance and risk management.

These rules will apply to virtual asset service providers and are expected to strengthen market discipline.

The framework will also introduce prudential and supervisory safeguards to support investor protection and wider financial stability.

Authorities said stakeholder consultations and capacity-building efforts are already underway to improve coordination among regulators.

Ghana’s crypto push comes as the country’s fintech sector continues to expand through digital payments and financial technology services.

The review said digital finance can support inclusion and economic growth when innovation remains properly supervised.

However, regulators also raised concerns over unlicensed digital lending platforms operating outside the formal financial system.

The Bank of Ghana has issued directives targeting illegal lending apps as part of its wider effort to control digital finance risks.

The review said Ghana must keep monitoring emerging threats as more consumers and businesses use online financial products.

Regulators said stronger rules can help the country benefit from crypto and fintech growth without allowing weak oversight to damage confidence.