BoG, SEC direct VASPs to suspend unapproved Crypto promotions
21st February 2026
The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have directed all Virtual Asset Service Providers (VASPs) to immediately suspend unauthorised mass advertising and promotional campaigns related to virtual asset and stablecoin products.
In a joint press release issued on Friday, February 20, 2026, the two regulators said they had observed with concern the growing number of advertisements for virtual asset and stablecoin products, including large billboards mounted in Accra and other parts of the country by certain VASPs.
The statement stressed that all VASPs — including entities operating within the regulatory sandboxes of the BoG and SEC — must refrain from mass marketing or public promotional activities unless they receive explicit approval from both regulators.
According to the regulators, virtual asset advocacy is now a regulated activity under the Virtual Asset Service Providers Act, 2025 (Act 1154), and requires formal registration with the BoG and the SEC. They added that detailed guidelines governing advocacy and advertisements will be issued in due course.
The Act also outlines transitional provisions to allow existing VASPs to apply for licensing or registration once the new regulatory framework becomes fully operational.
The regulators further directed service providers who have already mounted billboards or engaged in public advertising to remove such materials within 48 hours of the notice.
They warned that failure to comply with the directive would attract severe sanctions against the affected service providers.