Ghana Admits 11 Firms Into Crypto Sandbox Under VASP Law

TLDR

• Ghana’s Securities and Exchange Commission admitted 11 companies into a 12-month crypto regulatory sandbox under the VASP Act 2025.
• The sandbox allows firms to test cryptocurrency and digital asset services in a supervised environment.
• The program will run for 12 months while the regulator monitors compliance and operational risks.
• Asset tokenization firms, including Africoin Blu Penguin Vaulta XChain and Goldbod joined the first cohort.
• Crypto exchanges such as Hyro Exchange HanyPay and WhiteBit also secured access to the pilot program.

Ghana’s Securities and Exchange Commission has admitted 11 companies into a crypto regulatory sandbox under the Virtual Asset Service Providers Act, 2025. The regulator will supervise the firms as they test cryptocurrency and digital asset products. The 12-month program forms a central part of Ghana’s plan to oversee virtual asset activities.

Ghana Launches Supervised Crypto Sandbox Under VASP Act

The SEC granted the firms access to a controlled testing environment under the new law. The regulator will monitor operations, risks, and compliance throughout the 12 months. It said the sandbox will guide early supervision of digital asset services in Ghana.

The commission stated that the program allows companies to operate live products under defined limits. It explained that regulators will collect data and assess risk controls during the trial phase. The SEC said the exercise will help it refine oversight tools under the VASP Act, 2025.

The regulator confirmed that firms with market-ready products may transition to full licenses after six months. It added that companies must meet all regulatory standards before securing approval. Others will remain in the sandbox for the full term to improve systems and controls.

The SEC said it will use findings from the pilot to shape licensing rules. It noted that officials will review business models and operational safeguards during the process. The commission added that the sandbox stands at the center of its early crypto oversight framework.

Africoin, Blu Penguin, Vaulta, XChain and Goldbod Join Exchanges

The first cohort includes asset tokenization firms Africoin, Blu Penguin, Vaulta, XChain, and Goldbod. These companies will test blockchain-based asset issuance and tokenized investment products. The SEC will assess their governance, custody systems, and disclosure standards during the pilot.

Cryptocurrency exchanges Hyro Exchange, HanyPay, and WhiteBit also secured admission into the sandbox. The exchanges will test trading platforms and digital payment services under regulatory supervision. The regulator will monitor transaction reporting, liquidity management, and compliance checks.

The SEC said the sandbox will inform rules covering investor protection and market integrity. It added that anti-money laundering controls will form a core part of the assessment process. The commission stated that data gathered during testing will support future licensing guidelines.

Officials confirmed that the regulator will publish final guidelines after the sandbox closes. It said the commission will then open the licensing process to a broader group of providers. The SEC added that applicants must meet capital, governance, and reporting standards set under the law.

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