Bank of Ghana Moves to Regulate Crypto by Late 2025 - Blockonomi

by · Blockonomi

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  • Bank of Ghana plans to regulate virtual assets by December 2025 under a new licensing regime for crypto.
  • Around 3 million Ghanaians now use crypto; $3 billion in trades recorded from July 2023 to June 2024.
  • The BoG has yet to fully staff its crypto oversight department, though framework is completed.
  • Ghana delays earlier September target, now pushing bill to parliament before end of 2025.

Ghana’s central bank has announced it will impose formal crypto rules by late 2025, aiming to bring a booming sector under control. 

The Bank of Ghana says it has already drafted a framework to license platforms and monitor digital asset flows. It also admits it lacks staff for enforcement just yet. The new deadline replaces an earlier target that proved unachievable. This shift signals a turning point for Ghana’s crypto landscape.

Crypto regulation timeline and framework

The Bank of Ghana governor, Johnson Asiama, disclosed at the IMF meetings in Washington that the country will table a virtual assets bill to parliament before December 2025. He said work in recent months produced a framework meant to license and supervise virtual asset service providers.

Initially, the bank had set a September 2025 goal, but that timeline slipped. 

Asiama explained that the law is the first step; the challenge lies in building monitoring systems and expertise.The framework would empower the BoG to license exchanges, wallets, and digital-asset platforms under joint oversight with the Securities and Exchange Commission.

Beyond licensing, the plan includes anti-money laundering rules, reporting obligations, KYC requirements and internal controls for platforms. The proposed law also aims to give regulatory clarity to consumers, service providers, and government.

Crypto adoption, challenges, and enforcement gaps

Usage of crypto in Ghana has grown rapidly. Estimates place about 3 million users, nearly 9 percent of the population, engaging in digital asset trading or remittances.

In the 12-month span from July 2023 to June 2024, crypto transactions in Ghana reportedly exceeded $3 billion. With such volumes, Ghana faces pressure to regulate before more abuse or capital flight occurs.

Yet the central bank acknowledges that enforcement capacity is lacking. It has not fully staffed the department that will oversee digital assets. Recruitment, training, and systems development must catch up. 

Analysts warn that passing a law is not enough if enforcement is weak. The BoG is also operating a “digital sandbox” to test regulation under controlled conditions before full rollout.

Ghana’s pivot on timing from September to December shows the difficulties regulators face in matching ambition with staffing. Whether the December deadline holds will depend on execution, not just intent.

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