Virtual Asset Service Providers Bill Ready For Parliament- BoG

The Bank of Ghana, in an update on the Virtual Asset Service Providers Bill, has said it is ready to be laid before Parliament.

The bill for establishing a comprehensive regulatory framework for virtual asset activities in Ghana was drafted through the collaboration with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC).

It has undergone extensive review by industry groups, relevant state institutions, and international development partners, and is now progressing through the processes leading to consideration by Parliament.

As part of this process, the Bank in July 2025 conducted a mandatory registration exercise for all virtual asset service providers.

This provided updated baseline information on virtual asset activities in Ghana, offering valuable insights to guide the design of a regulatory framework that is both market-relevant and fit for purpose.

In its statement, the Central Bank said it had adopted a structured roadmap to guide the phased implementation of the framework and the operationalisation of the forthcoming VASP Act.

“Immediate priorities include continued consultations with the Executive Arm of Government, the Legislature and other stakeholders on the Draft Bill, the launch of a dedicated online portal to serve as a central source of information and compliance support for VASPs, nationwide awareness and engagement activities with industry and the public, and preparatory measures to ensure a smooth rollout of the Act.”

Story by Hajara Fuseini

Click to read more: https://opemsuo.com/author/hajara-fuseini/