The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has warned the public against the uninformed and risky use of virtual assets, saying poor understanding could expose consumers and the wider financial system to significant risks.
Speaking at the launch of the National Virtual Asset Literacy Initiative in Accra on 23 January 2026, Dr Asiama said regulation and enforcement alone would not be sufficient to address the growing risks associated with digital assets.
He stressed that users across the financial ecosystem must clearly understand how virtual assets operate and the implications of adopting them.
“Regulation and enforcement on their own cannot deal with the risks in this space unless consumers and market participants fully understand how these assets work,” he said.
Dr Asiama explained that the literacy initiative described as a carefully designed programme is being led by the Bank of Ghana in collaboration with the Securities and Exchange Commission (SEC), as well as academic and industry partners.
The Governor also stated that, the recent passage of the Virtual Asset Service Providers Act represented a significant milestone in Ghana’s financial sector development.
According to Dr Johnson Pandit Asiama, the legislation is guided by two main policy objectives: strengthening institutional capacity to regulate and supervise virtual assets and related technologies such as blockchain, and promoting nationwide awareness of the risks and implications of virtual asset usage.
“The goal is to discourage uninformed use and risky adoption,” he said.
Dr Asiama warned that without widespread education and awareness, innovation in the virtual asset space could expose consumers and the broader economy to avoidable financial risks.
Meanwhile, Virtual assets, including cryptocurrencies, have grown rapidly in Ghana in recent years, driven by digital adoption, cross-border payments and investment interest.
However, the sector has largely operated without comprehensive regulation, raising concerns about fraud, market volatility and consumer protection. The Virtual Asset Service Providers Act forms part of broader efforts by the Bank of Ghana to regulate digital finance, strengthen oversight and align the country’s financial system with international standards.
