BoG introduces draft bill for Virtual Asset Service Providers
By Praisebell Rosemond Larbi
The Bank of Ghana (BoG) has advanced plans to regulate digital asset activities with the introduction of the draft Virtual Asset Service Providers (VASP) Bill, a landmark step towards safer and more transparent digital transactions.
The draft Bill, developed in partnership with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC), has already undergone extensive review by industry players, state institutions and international partners.
It is now set to proceed to Parliament for consideration, marking Ghana’s most decisive regulatory intervention in the fast-growing digital asset space.
Ahead of the legislation, the BoG in July 2025 conducted a mandatory registration exercise for all virtual asset service providers.
The exercise provided updated data on sector players, which the central bank says will inform a regulatory framework that is both “market-relevant and fit for purpose”.
The data is also expected to strengthen oversight and help curb money laundering, terrorism financing and other illicit activities.
Under a phased implementation plan, once the Bill becomes law, the BoG intends to, among others, maintain continuous engagement with public and private stakeholders, roll out a dedicated online compliance portal for reporting and regulatory guidance and launch a nationwide awareness campaign to educate both industry actors and the general public.
In a statement, the central bank emphasised that the central objective is to foster “a safe, transparent and innovative virtual asset ecosystem” that protects consumers, encourages responsible innovation and upholds the stability of Ghana’s financial system.
