CMC News

#Ghana Legalizes #CryptoTrading Under Central Bank Oversight

Ghana's parliament has passed the Virtual Asset Service Providers Bill into law, establishing a regulatory framework for cryptocurrency trading and granting the Bank of Ghana authority to license and supervise digital asset providers. Governor Johnson Asiama announced the legislation at the central bank's annual Nine Lessons, Carols and Thanksgiving Service on Friday.

The law removes legal uncertainty surrounding #cryptocurrency activity in Ghana while positioning the Bank of Ghana as the primary regulator. Virtual asset trading is now legal, and individuals will no longer face arrest for engaging in crypto transactions, though the framework aims to manage associated risks, according to Asiama.

Under the legislation, the central bank gains the power to license and supervise crypto asset service providers (CASPs). The law is designed to protect consumers from fraud, money laundering, and systemic risks while supporting innovation and expanding fin