By Jibril Abdul Mumuni
Accra, Dec 25, GNA – Ghana is ready for cryptocurrency adoption as key regulatory framework to regulate the sector awaits Presidential assent.
On December 22, 2025, Parliament passed the Virtual Asset Service Providers (VASPs) Bill, creating the first comprehensive legal framework for regulating virtual assets and the businesses that provide them.
The new law legalises cryptocurrency trading activities in Ghana and brings the sector under formal oversight to address concerns around money laundering, consumer protection, and financial stability.
Dr. Seyram Pearl Kumal, Lead for Virtual Asset Regulation at the Bank of Ghana, emphasised that the Act would establish a comprehensive legal framework for the sector.
Dr Kumal was speaking at VASPs Ecosystem Mixer event organised by Web 3 Africa Group, which brought together regulators, global industry players, and local stakeholders to shape the future of the digital asset landscape.
The event, supported by global cryptocurrency exchange Binance and Ubuntu Ghana Technologies, served as a platform for crucial dialogue on regulation, innovation, and financial literacy in Ghana’s virtual assets space.
“The Act is the primary document to guide the virtual asset sector. It provides the high-level rules, and we will operationalise it using secondary instruments like directives and guidelines tailored to specific licensed activities,” she said.
r. Kumal explained that Ghana has adopted a “principle-based” regulatory approach, which allows for flexibility and agility in a fast-evolving industry.
This framework according to her will require VASPs to be licensed or registered for specific activities, with oversight shared between the Bank of Ghana and the Securities and Exchange Commission (SEC).
Data presented showed Ghana’s significant potential, with an estimated 10-15 per cent of adults holding crypto assets, a banked population of 58 per cent, and a robust mobile money penetration of 40-50 per cent.
Mr. Larry Cooke, Head of Legal for Africa at Binance, underscored the importance of collaboration and compliance.
He highlighted Binance’s role as a responsible ecosystem player with over 22 global licenses, committed to driving financial inclusion through secure and regulated crypto services.
“We make sure that we use being compliant as a competitive advantage. Our goal is to steer the community towards embracing regulatory change to make the space more secure for users,” he said.
Mr. Cooke identified education, consumer protection, and bridging the financial inclusion gap as critical pillars for sustainable adoption of cryptocurrency in Ghana.
He revealed that initiatives like ‘Binance Junior’ and the distribution of educational materials like “The ABCs of Crypto” would foster literacy from the grassroots level.
He noted that Mixer presented a unique opportunity for crypto to act as a complementary layer for financial inclusion.
Mr. Del Titus Bawuah, CEO of the Web 3 Africa Group, said the organisation of the Mixer was timely as the digital asset industry awaited Presidential assent to the landmark.
He said the Mixer had afforded regulators and players the opportunities to deliberate on the law.
GNA
Christian Akorlie