Ghana Moves Toward Crypto Regulation by Year-End

Ghana is preparing to introduce its first-ever cryptocurrency regulations by the end of 2025, with the country’s central bank confirming that a draft bill will soon be presented to parliament. The announcement comes just a week after Kenya passed its own crypto regulatory framework, signaling a growing shift across Africa toward formal oversight of the digital asset industry.

Speaking at the International Monetary Fund’s annual meetings in Washington on Thursday, Johnson Asiama, governor of the Bank of Ghana (BoG), said, “We’ve done a lot of work in the past four months to put together the regulatory environment.” 

He added that the bill would likely reach parliament before December ends. This further paves the way for Ghana to finally regulate cryptocurrencies within its borders.

Crypto Laws Are Only the First Step

Initially, the Bank of Ghana had targeted Sep for introducing its crypto framework, following the release of draft guidelines in August and a period of public consultation. Asiama, however, noted that passing laws is just the beginning. 

“The ability to monitor crypto flows will be key,” he said. “We are developing the expertise, we are developing the manpower. We are putting together a new department that will help us.”

The BoG’s earlier position on digital assets was one of caution. It repeatedly warned citizens that cryptocurrencies were not legal tender and advised the public to rely on the CBDC. But the rapid rise in adoption across the country has made regulation unavoidable.

Ghana’s Crypto Adoption Keeps Rising

According to data from Demandsage, over 3 million Ghanaians, roughly 8.9% of the population, now use cryptocurrencies in some form. Asiama acknowledged that the growing popularity of digital assets compelled regulators to act. “We could not leave it,” he said. “As policymakers, what we have to do is to have some control to prevent abuse of the system.”

The BoG is also operating a digital sandbox to allow select fintechs and crypto startups to experiment with blockchain-based solutions under regulatory supervision.

Industry experts have praised the central bank’s proactive stance but warned against delays. Isaac Simpson, senior head of financial advisory at Stanbic Bank Ghana, said in July that the “digital train has left the station.” He cautioned that without swift regulation, Ghana risks falling behind peers like Nigeria, Kenya, and Uganda which are already piloting CBDCs and regulated exchanges.

“Inaction is a policy,” Simpson warned. “And right now, our inaction is costing us—loss of tax revenue, exposure to illicit capital flows, and a thriving unregulated digital economy outside state control.”