President Mahama Signs Virtual Asset Service Providers Bill into Law
Hilda Appiah
President John Dramani Mahama has formally signed the Virtual Asset Service Providers (VASP) Bill into law, marking a historic milestone in Ghana’s financial and digital landscape. This landmark decision officially gives the country its first comprehensive legal framework to govern virtual assets, including cryptocurrencies, and the businesses that provide related services.
The new legislation follows its passage in Parliament after thorough review and debate. The VASP Act now establishes clear regulatory expectations for activities involving virtual assets, removing longstanding legal uncertainty for individuals and companies operating in this space.
Under the new law, the Bank of Ghana, the Securities and Exchange Commission (SEC), and other regulators designated by the Finance Minister will be responsible for oversight. All entities that deal in virtual assets, including exchanges, trading platforms, token issuers, brokers, asset managers, and other service providers, must obtain licences or register with the appropriate authority before operating legally in Ghana.
In announcing the development, officials emphasised the importance of this legal framework in promoting innovation, protecting consumers, and strengthening investor confidence. Detailed guidelines and regulatory instruments will soon be issued jointly by the Bank of Ghana and the SEC to guide market participants on compliance and licensing procedures.
This legislative milestone reflects Ghana’s commitment to embracing emerging technologies while ensuring a safe, transparent and well‑regulated digital asset ecosystem.
