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Virtual Assets
Empowering Innovation, Ensuring Trust: Virtual Assets in Ghana
Safe and efficient regulatory frameworks guiding virtual asset services in Ghana
Virtual Assets
Virtual assets are digital representations of value that can be created, stored, and transferred electronically, typically using distributed ledger or blockchain technology. They may serve a variety of functions, including use as a medium of exchange, for investment, or as a means of accessing goods, services, or applications within specific ecosystems. These assets include cryptocurrencies, tokens, stablecoins, and other blockchain-based instruments.
Introducing a Regulatory Framework for Virtual Asset Services in Ghana
The Bank of Ghana, in collaboration with the Securities and Exchange Commission (SEC), and the Financial Intelligence Centre (FIC), is introducing a legal framework to register and license Virtual Asset Service Providers (VASPs) in Ghana. This initiative is to:
- Safeguard financial stability
- Protect consumers and investors
- Strengthen compliance with Anti-Money Laundering, Counter-Terrorist Financing, and Proliferation Financing standards
- Foster responsible innovation in the financial sector
- Strengthen domestic coordination in managing risks posed by virtual asset service providers
- Promote international cooperation in the fight against financial crime
- Address cybersecurity risks associated with virtual assets
Legal and Regulatory Frameworks
The Virtual Asset Service Providers Act, 2025 (Act xxx) establishes the legal foundation for the registration, licensing, and supervision of VASPs in Ghana.
Supporting Regulations and related regulatory measures set out detailed requirements for compliance, disclosures, taxation, and operational standards, ensuring that VASPs operate in line with both national laws and international best practice.
The Virtual Assets Regulatory Office (VARO)
The Virtual Assets Regulatory Office (VARO)
The Virtual Assets Regulatory Office (VARO) is a newly established office within the Bank of Ghana, created to regulate and supervise participants in Ghana’s growing virtual assets ecosystem. VARO will work in close collaboration with the Securities and Exchange Commission (SEC), the Financial Intelligence Centre (FIC), and other stakeholders to ensure that Virtual Asset Service Providers (VASPs) operate in a safe, transparent, and compliant manner.
VARO’s mandate is to balance innovation with stability—supporting the growth of new technologies while protecting consumers and safeguarding the financial system. Through the development of clear regulatory guidelines and effective supervisory mechanisms, the Office will help to build trust in virtual assets and promote their responsible adoption within Ghana’s financial sector.
VARO’s mandate is to balance innovation with stability—supporting the growth of new technologies while protecting consumers and safeguarding the financial system. Through the development of clear regulatory guidelines and effective supervisory mechanisms, the Office will help to build trust in virtual assets and promote their responsible adoption within Ghana’s financial sector.
Register or Be Licensed?
Entities that must register or
obtain a licence include:
- Virtual asset wallet providers
(custodial and non-custodial)
- Virtual asset trading platforms and exchanges
- Virtual asset investment advisors
- Issuers of virtual assets (e.g., ICOs)
- Virtual asset managers
- Fintech innovators using virtual assets
- Stablecoin Issuance
- Asset Tokenization Services
- Virtual Asset Dealing Services
- Virtual Asset Lending and Borrowing Services (Refer to Schedule for details)
(custodial and non-custodial)
- Virtual asset trading platforms and exchanges
- Virtual asset investment advisors
- Issuers of virtual assets (e.g., ICOs)
- Virtual asset managers
- Fintech innovators using virtual assets
- Stablecoin Issuance
- Asset Tokenization Services
- Virtual Asset Dealing Services
- Virtual Asset Lending and Borrowing Services (Refer to Schedule for details)
Application Process
How to Apply?
Follow these steps to begin your registration or licensing process:
Step 1: Determine if your service requires registration or licensing.
Step 2: Complete the application form.
Step 3: Submit the required documents and pay applicable fees.
Step 4: Await assessment and decision from the relevant regulatory authority
For full requirements and guidance, please refer to the applicable directive
Start Application
Step 1: Determine if your service requires registration or licensing.
Step 2: Complete the application form.
Step 3: Submit the required documents and pay applicable fees.
Step 4: Await assessment and decision from the relevant regulatory authority
For full requirements and guidance, please refer to the applicable directive
Compliance & Supervision
VASPs must comply with:
- Anti-Money Laundering Act, 2020 (Act 1044)
- Data protection and cybersecurity standards
- Disclosure and reporting obligations
Fees & Charges
Coming Soon
Resources
A list of VASP Resources
View MoreContact Us
Virtual Assets Unit,
Bank of Ghana,
Email: vasp@bog.gov.gh,
Call: +233 (0)302 123 456,
Address: The Bank Square, 42 Castle Road, Accra