Ghana Legalizes Cryptocurrency Trading, Says Central Bank Governor

Ghana has officially recognized cryptocurrency trading by creating a regulatory framework aimed at the industry.

Key Takeaways

Ghana has legalized cryptocurrency trading by passing the Virtual Asset Service Providers Bill.
The Bank of Ghana will be the primary regulator overseeing cryptocurrency activities.
New regulations aim to protect consumers and foster innovation in the financial sector.
Ghana ranks among the top five Sub-Saharan African countries for crypto adoption, alongside Nigeria and South Africa.

Ghana Legalizes Cryptocurrency Trading

The Ghanaian Parliament has approved the Virtual Asset Service Providers Bill, as confirmed by Bank of Ghana (BoG) Governor Johnson Asiama in a report released on Sunday by the government-owned Daily Graphic news agency.

“Trading in virtual assets is now legal, and individuals will not face arrest for participating in cryptocurrency activities. We have established a framework to manage the associated risks,” Asiama stated during the BoG’s annual Nine Lessons, Carols, and Thanksgiving Service on Friday. This announcement coincides with earlier communications from the central bank, which indicated that Ghana aimed to implement cryptocurrency regulation by the end of 2025.

Central Bank of Ghana as Regulator

With the new legislation, the Bank of Ghana will take on the role of the main regulatory body for cryptocurrency operations, possessing the authority to license and oversee crypto asset service providers (CASPs).

According to Asiama, this law will enhance consumer protection against fraud, money laundering, and systemic risks, while also clarifying the legal status of cryptocurrency. He emphasized that the crypto law is designed to foster innovation and improve financial inclusion in Ghana, especially for the youth and tech-oriented entrepreneurs.

Ghana's Position in Sub-Saharan Africa's Crypto Landscape

Ghana's decision to regulate cryptocurrency comes as the nation is becoming a key player in the region’s crypto adoption.

The 2025 Geography of Cryptocurrency Report by Chainalysis reveals that Ghana ranks among the top five Sub-Saharan African countries in terms of total crypto value received between July 2024 and June 2025.

Total crypto value received by country in Sub-Saharan Africa from July 2024 to June 2025. Source: Chainalysis

Meanwhile, Nigeria maintained its leading position, receiving approximately $92 billion in crypto value during this timeframe, nearly three times more than South Africa, as shown in the report.

The Sub-Saharan region garnered over $205 billion in on-chain value, marking a 52% increase from the previous year. This surge positions it as the third-fastest growing area globally, trailing only Asia-Pacific and Latin America, according to Chainalysis.