The Bank of Ghana (BoG) has issued a directive mandating all Virtual Asset Service Providers (VASPs) operating within the country’s jurisdiction to register with the central bank by 15 August 2025. The move, announced through a formal notice dated 10 July 2025, forms part of the central bank’s broader efforts to promote financial stability, innovation, and consumer protection within Ghana’s growing digital financial ecosystem.
In what is being described as a preliminary step towards comprehensive regulation, the BoG’s directive applies to all individuals and firms engaged in digital asset activities such as cryptocurrency exchanges, digital wallets, and virtual asset settlements.
This compulsory registration applies to both physically present and digitally-based operators serving Ghanaian residents. The bank stressed that failure to comply could lead to regulatory sanctions or disqualification from future licensing processes.
“Registration is compulsory,” the central bank warned, adding that “failure to comply may result in regulatory sanctions or disqualification from future licensing.”
The Bank of Ghana outlined four primary categories of services requiring registration:
Virtual asset exchange services.
Wallet provision or custody services.
Transfer or settlement services involving digital currencies.
Issuance or sale of virtual assets, including initial coin offerings (ICOs) and stablecoins.
By mandating this early registration, the central bank aims to gather critical data to support the development of legal and regulatory frameworks that reflect evolving market conditions and global best practices. While the registration does not yet constitute a license to operate, it serves as a foundational step toward full regulatory oversight.
“This exercise is aimed at ensuring that the forthcoming legal and regulatory frameworks for VASPs are informed by market developments and aligned with international best practices,” the bank noted.
The Bank of Ghana’s move follows a growing trend among central banks worldwide to tighten controls over the digital asset industry. The Financial Action Task Force (FATF), an intergovernmental body focused on combating money laundering and terrorism financing, has long called for countries to implement stronger oversight of VASPs . Ghana’s decision to formalize this registration process brings it in line with such international recommendations.
Cryptocurrency and digital asset activities have surged in West Africa in recent years, with Ghana emerging as one of the region’s leading adopters of fintech innovation. However, this growth has also raised concerns about consumer protection, illicit finance, and systemic risks in the absence of clear regulations.
According to Chainalysis’ 2024 Global Crypto Adoption Index, Ghana ranks among the top ten African nations in peer-to-peer crypto transaction volume. The country’s proactive stance on Virtual Asset Service Providers in Ghana regulation signals a commitment to both fostering innovation and safeguarding public interest.
VASPs must complete the mandatory registration through the official online portal provided by the BoG: https://forms.office.com/r/XqthpEkhkQ. The deadline for submission is 15 August 2025.
The central bank emphasized that the registration process does not imply operational approval or legal recognition. Rather, it is a precondition for potential future licensing and compliance with the yet-to-be-finalized regulatory framework.
“Registration does not constitute a licence to operate, nor does it imply legal recognition or approval,” the statement clarified.
Additionally, the BoG reserves the right to issue further directives following the assessment of submitted information.
For technical assistance or further inquiries, the Bank of Ghana directed stakeholders to reach out via email: vasp@bog.gov.gh.
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