Catenaa, Monday, December 29, 2028- Ghana has legalized cryptocurrency trading after parliament passed a law establishing a formal regulatory framework for digital asset activity, moving the sector out of a long-standing legal gray area.

The Virtual Asset Service Providers Bill requires individuals and companies engaged in crypto-related services to register with either the Bank of Ghana or the Securities and Exchange Commission, depending on the activity.

The law creates licensing, supervision and compliance standards for exchanges, brokers, custodians and other market participants.

Authorities said the framework is intended to bring oversight to a fast-growing sector while managing financial stability, consumer protection and illicit finance risks.

Ghana’s central bank has indicated that crypto trading itself will no longer expose users to arrest, marking a shift from earlier uncertainty around enforcement.

Crypto adoption in Ghana has expanded rapidly in recent years.

The country processed an estimated $3 billion in digital asset transactions between July 2023 and June 2024, according to local industry estimates.

About 17% of Ghana’s adult population is believed to use cryptocurrencies, reflecting demand for alternative payment rails, remittances and value storage amid currency pressures.

Looking ahead, regulators plan to focus on the use of digital assets in payments, trade finance, foreign exchange settlement and market infrastructure beginning in 2026.

Officials have also signaled plans to examine asset-backed digital settlement tools, including stablecoins linked to gold reserves, as part of efforts to support cross-border commerce.

The central bank said future innovation will be assessed against clear expectations, with emphasis on cost reduction, financial access, regulatory compliance and stronger risk controls.

Ghana joins a growing number of African countries moving to formalize crypto markets as adoption continues to rise across the region.