Ghana May Move to Regulate Crypto by December, BoG Says as Ripple Mention Underscores Regional Interest

• Bill to reach parliament by December 2025 to establish licensing and monitoring of crypto activity in Ghana.

• Bank of Ghana will create a dedicated department and digital sandbox to develop expertise and test regulated services.

• Over 3 million Ghanaians (~8.9% of the population) are estimated crypto users; regulations aim to curb illicit flows and protect consumers.

Ghana crypto regulations: Bill advancing to parliament with December 2025 target, licensing and monitoring to protect users—read how this affects exchanges and consumers.

Published: 2025-10-17 | Updated: 2025-10-17 | Author: COINOTAG

How will Ghana regulate cryptocurrencies?

Ghana crypto regulations will establish a legal framework to license virtual asset service providers (VASPs), set consumer protection standards, and enable monitoring of crypto flows. The Bank of Ghana is advancing a bill to parliament with a stated target of having the legislation in place by December 2025, accompanied by a dedicated supervisory unit.

What will the regulatory framework cover and when will it take effect?

The proposed framework is designed to cover exchanges, brokers, wallet operators and token issuers, with licensing requirements and supervisory oversight. Bank of Ghana governor Johnson Asiama told the IMF meetings in Washington that draft guidelines were issued in August 2024 and the bill is being finalised for parliamentary submission, aiming for enactment before the end of December 2025. The first phase will focus on registration, licensing and building monitoring capacity.

The Bank of Ghana has signalled that regulatory action is driven by rising adoption and the need to manage risks. As Asiama said, “the ability to monitor crypto flows will be key,” and the central bank is “developing the expertise, we are developing the manpower” and establishing a new department to support oversight.

Johnson Asiama, governor of the Bank of Ghana, hopes crypto regulations will be in place by December. Source: YouTube

Background: why Ghana is moving now

Ghana’s decision to accelerate a regulatory framework follows growing digital asset usage and regional legislative momentum. Earlier in October 2025, Kenya passed a VASP bill establishing licensing, consumer protections and frameworks for providers—an example cited by Ghanaian officials as part of a regional trend.

Independent data from Demandsage estimates that more than 3 million people in Ghana—about 8.9% of a 34 million population—use crypto in some form. That level of adoption has prompted the Bank of Ghana to move from caution to active regulation: the bank previously warned cryptocurrencies are not legal tender and urged the use of central-bank-backed money.

How will regulators implement monitoring and enforcement?

Implementation will rely on a mix of licensing conditions, reporting obligations and technological capability. The Bank of Ghana has established a digital sandbox to allow selected companies to pilot compliant services, while building a compliance unit to analyse transaction patterns and identify illicit flows. Officials emphasise training and manpower expansion as prerequisites for effective enforcement.

Industry stakeholders and local banks have publicly urged prompt action. Isaac Simpson, senior head of financial advisory and equity capital markets at Stanbic Bank Ghana, said the country must act to avoid falling behind peers: “Nigeria, Kenya, South Africa, and Rwanda are already miles ahead—piloting CBDCs, launching regulated crypto exchanges, issuing digital asset licenses, and attracting global crypto capital.” Simpson warned that inaction risks tax revenue loss, exposure to illicit flows, and stifled innovation.

Frequently Asked Questions

When will Ghana’s crypto bill be submitted to parliament?

The Bank of Ghana has indicated the bill will be on its way to parliament with a goal of submission and enactment before the end of December 2025, following public consultation on draft guidelines issued in August 2024.

Will existing crypto services in Ghana need to reapply for licences?

Yes. The framework is expected to require registration and licensing of existing virtual asset service providers, with transitional provisions likely to allow continued operations while firms meet compliance and reporting standards.

Key Takeaways

• Regulatory timeline: Ghana aims to have crypto legislation before parliament and enacted by December 2025.
• Supervisory buildout: Bank of Ghana will set up a new department and digital sandbox to develop monitoring and enforcement capabilities.
• Market impact: With an estimated 3 million users, new rules are intended to protect consumers, secure tax revenue and reduce illicit capital flows while enabling regulated innovation.

Conclusion

Ghana crypto regulations mark a transition from advisory warnings to formal oversight, reflecting rising domestic adoption and regional regulatory momentum. The Bank of Ghana’s draft guidelines, digital sandbox pilots and the planned departmental buildout are central to a phased implementation that prioritises licensing, monitoring and consumer protection. Watch for parliamentary debate and implementing regulations through late 2025; COINOTAG will continue coverage as the story develops.

Sources: Bank of Ghana statements at IMF meetings (Washington), Demandsage adoption estimates, statements from Stanbic Bank Ghana leadership. Related: Ripple taps Absa to bring bank-grade crypto custody to South Africa (plain text reference).