The Bank of Ghana (BoG) has directed all Virtual Asset Service Providers (VASPs) in the country to register with the central bank by August 15, 2025, or risk regulatory sanctions.
The central bank says the directive is part of its efforts to stabilise the financial sector and enhance innovation to protect those within the digital financial ecosystem.
A statement signed by the Secretary to the Bank, Sandra Thompson, it said: “Pursuant to its mandate of maintaining financial stability and consistent with its ongoing efforts to promote integrity, innovation and consumer protection in the digital financial ecosystem, the Bank of Ghana requires all Virtual Asset Service Providers (VASPs) operating within the jurisdiction of the Republic of Ghana to register with the Bank.”
The directive, according to the BoG, applies to both the foreign and local based operators rendering services to residents in Ghana.
It also covers a wide scope of virtual asset activities, including:
- Virtual asset exchange services
- Wallet provision or custody services
- Transfer or settlement services involving virtual assets
- Services related to the issuance or sale of virtual assets, such as Initial Coin Offerings (ICOs) and stablecoins.
The Bank clarified that the exercise is preliminary and is intended to inform the upcoming legal and regulatory framework for VASPs, aligning it with international best practices.
The bank, has, however, indicated that the registration does not constitute legal authorisation to operate, and has urged operators not to misconstrue it to mean same.
“Registration does not constitute a licence to operate, nor does it imply legal recognition or approval,” the statement noted. “Failure to comply may result in regulatory sanctions or disqualification from future licensing.”
VASPs are required to complete the registration process via the following online form: https://forms.office.com/r/XqthpEkhkQ.
The Bank of Ghana has also pledged to issue further directives based on insights gathered from the registration process. For technical support, VASPs are encouraged to contact the regulator via the dedicated email: [email protected].
This development comes as global financial regulators tighten oversight of the cryptocurrency and virtual asset space in response to concerns over money laundering, terrorism financing, and financial stability.
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