Ghana has taken a major step toward embracing the digital economy by formally legalizing cryptocurrency trading. The move marks a turning point for the country’s crypto sector as lawmakers establish clear oversight for an industry long operating in legal uncertainty.

The Ghanaian parliament passed the Virtual Asset Service Providers Bill, granting the Bank of Ghana (BoG) authority to regulate and license crypto asset service providers (CASPs). BoG Governor Johnson Asiama confirmed the development, saying virtual asset trading is now legal under a defined regulatory framework.

Central Bank Takes the Lead

The law empowers the central bank to oversee all crypto-related activities, giving it supervisory and licensing powers similar to those it holds over traditional financial institutions.

The new policy aims to strike a balance between enabling innovation and safeguarding consumers. The timing reflects earlier commitments from the central bank, which had targeted the rollout of crypto regulations by the end of 2025.

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Ghana’s decision comes as the country rises among Sub-Saharan Africa’s most active crypto markets. A recent report by Chainalysis ranked Ghana among the top five countries in the region for total crypto value received between July 2024 and June 2025, Cointelegraph reported.

Across the region, Nigeria led the way with roughly $92 billion in crypto inflows—almost triple South Africa’s volume—while total regional on-chain activity reached over $205 billion, representing a 52% increase year-over-year. This growth places Sub-Saharan Africa as the third-fastest-growing crypto market globally, just behind Asia-Pacific and Latin America.

A Regulatory Milestone for West Africa

By passing the Virtual Asset Service Providers Bill, Ghana joins a growing list of African nations formalizing their stance on digital assets. The legislative move not only provides legal certainty for traders and businesses but also signals Ghana’s readiness to adapt its financial systems to emerging technologies.

With the Bank of Ghana now at the helm of crypto supervision, the country hopes to minimize illicit activity while nurturing responsible innovation.

Similarly, in Kenya, crypto rules are taking shape. Bitcoin ATMs recently appeared in major Nairobi malls just days after Kenya’s new crypto law took effect, prompting regulators to warn that no operator has been cleared to run digital-asset services in the country.

Kenya’s parliament has passed the Virtual Asset Service Providers Bill to regulate digital currencies and virtual assets, bringing the country a step closer to formal oversight of its fast-growing crypto market, with the legislation now awaiting President William Ruto’s signature to become law.