President John Dramani Mahama has signed the Virtual Asset Service Providers (VASP) Bill into law, officially introducing a regulated framework for virtual assets in Ghana and marking a major step in the evolution of the country’s financial sector.

The development was announced in a Facebook post by the Deputy Director-General of the Securities and Exchange Commission (SEC), Mensah Thompson, following the bill’s passage by Parliament after extensive deliberations. The new law establishes a legal framework for the use, trading and provision of services related to virtual assets, including cryptocurrencies, bringing digital asset activities under formal regulatory oversight.

With the law now in force, the Securities and Exchange Commission and the Bank of Ghana are expected to play key roles in supervising and regulating virtual asset service providers. The move is aimed at enhancing investor protection, strengthening market integrity and safeguarding financial stability.
“The Bill among other things legalizes the usage, trading and provision of service in the virtual assets (including cryptocurrencies) space. The SEC and the Bank of Ghana wish to congratulate His Excellency the President, The Minister for Finance, the Governor of the Central Bank and the Director General of the SEC for their foresight in moving Ghana an inch closer towards the next phase of global finance and inclusion."

He also acknowledged the contributions of virtual asset service providers, including major exchanges and traders, as well as Parliament’s Finance Committee Chairman, Isaac Adongo, for his leadership and support throughout the legislative process.

The statement further recognised the roles played by the Presidency, the Ministry of Finance, the Bank of Ghana, Parliament and industry stakeholders, noting the bipartisan backing the bill received and the technical input provided by staff of the SEC and the central bank.

The enactment of the VASP law is widely viewed as part of Ghana’s broader efforts to align its financial system with global digital finance trends, encourage innovation and expand financial inclusion within a clear and robust regulatory environment.