Ghana to Regulate Crypto by September 2025 as Surging Adoption Hits 17%

Ghana is set to implement a formal regulatory framework for its rapidly expanding cryptocurrency market by September 2025, signaling a strategic shift from a cautious approach to structured oversight. The Bank of Ghana (BoG) has drafted the Virtual Asset Providers Act, a legislative proposal aimed at licensing Virtual Asset Service Providers (VASPs) and integrating crypto activities into the national financial system [1]. The bill, which will be submitted to parliament by the specified deadline, includes provisions for anti-money laundering (AML) safeguards, consumer protection measures, and compliance protocols for crypto platforms. This move aligns Ghana with neighboring nations like Nigeria and South Africa, which have established similar frameworks to manage digital asset growth [3].

The regulatory push is driven by the surging adoption of cryptocurrencies across the country. An estimated 3 million Ghanaians, or 17% of the adult population, now use digital assets such as Bitcoin, Ethereum, and USDT for transactions, remittances, and business operations. Between July 2023 and June 2024, crypto transactions in Ghana reached $3 billion, underscoring the sector’s integration into daily economic activity [2]. BoG Governor Johnson Asiama acknowledged the urgency of formal oversight, noting that unregulated crypto activity has distorted financial data and hindered the central bank’s ability to monitor capital flows. Unreported transactions have complicated efforts to stabilize the Ghanaian cedi, which has experienced sharp fluctuations, appreciating 48% in the past year after a 25% decline the prior year [1].

The regulatory framework aims to address these challenges while fostering financial inclusion and innovation. By enforcing transparency and security standards, the BoG seeks to attract foreign investment in fintech infrastructure, mirroring trends in African markets with established crypto policies. Local fintech firms, including OZÉ and Affinity Africa, have already begun preparing for compliance, signaling confidence in the sector’s regulatory trajectory [3]. However, some industry observers caution that stringent requirements could initially slow adoption, while others argue that a well-structured environment will enhance trust and longevity for crypto services [1].

The BoG’s efforts also align with broader regional goals to modernize economies through technology. With inflation at 13.7% as of June and a benchmark interest rate of 28%, officials view digital asset regulation as a tool to refine monetary policy and attract investment. Improved oversight is expected to provide the BoG with critical insights into cross-border capital movements and inflation trends, supporting long-term stability in a country reliant on imports [1].

Stakeholders are closely monitoring the final terms of the legislation, with the September 2025 timeline reflecting both political will and the need to address immediate risks posed by an unregulated market. By balancing innovation with oversight, Ghana aims to position itself as a regional hub for digital finance while setting a potential model for other African nations [3].

Sources:

[1] [From Caution to Control: Ghana to Regulate Crypto by September 2025](https://cryptodaily.co.uk/2025/07/from-caution-to-control-ghana-to-regulate-crypto-by-september-2025)

[2] [Ghana regulators move forward to cover $3 billion](https://www.mitrade.com/insights/news/live-news/article-3-984885-20250724)

[3] [Ghana Introduces Crypto Licensing to Formalize Oversight](https://www.ainvest.com/news/ghana-introduces-crypto-licensing-formalize-oversight-boost-fintech-growth-2507/)