Ghana: Bank of Ghana Mandates Registration for Virtual Asset Service Providers

The Bank of Ghana has announced a mandatory registration directive for all Virtual Asset Service Providers (VASPs) operating within or serving residents of Ghana. The move forms part of the central bank’s preliminary efforts to assess and regulate entities engaged in virtual asset-related activities.

According to the directive, all firms offering services such as virtual asset exchanges, wallet custody, settlement and transfer of digital assets, and the issuance or sale of tokens (including Initial Coin Offerings and stablecoins), must register with the Bank by 15 August 2025.

This requirement applies to both physical and digital platforms offering services to individuals residing in Ghana, regardless of the provider’s country of incorporation.

The Bank emphasized that:

• Registration is compulsory, and failure to comply may result in regulatory sanctions or disqualification from future licensing opportunities.
• Registration does not confer operational approval, nor should it be interpreted as a license or legal recognition.
• The Bank retains the right to issue additional guidelines based on insights gathered through this exercise.

This initiative is part of the Bank’s broader strategy to develop a comprehensive regulatory framework for the virtual asset industry—one that aligns with international standards and responds effectively to evolving market trends.

The Bank encouraged all affected entities to comply within the stipulated timeframe, noting that the exercise will inform policy decisions around oversight, consumer protection, and financial stability in the growing digital asset sector.