Ghana Legalizes Crypto: New Law Sets Strict Rules and Protections
4.7 Regulation Ghana has legalized and regulated cryptocurrency trading, introducing strict oversight, consumer protections, and taxation. The new law aims to foster innovation, protect users, and position Ghana as a regional leader in digital asset regulation.
Ghana has passed a landmark law legalizing and regulating cryptocurrency trading and digital asset markets. The Virtual Asset Service Providers Bill establishes a comprehensive framework for licensing, supervision, and compliance, empowering the Bank of Ghana and the Securities and Exchange Commission to oversee the sector. The law introduces consumer protection measures, operational and cybersecurity standards, minimum capital requirements, and anti-money laundering controls in line with international standards. Exchanges and wallet services must now comply with these regulations, and the Ghana Revenue Authority will tax crypto gains, income, and service fees. While digital assets are legalized, only the Ghana cedi remains legal tender. The legislation aims to foster innovation, protect consumers, and attract investment, positioning Ghana as a regional leader in crypto regulation and providing clarity for both local users and international investors.
