• Ghana plans to license and regulate crypto platforms by September 2025, as 3 million adults use digital currencies worth $3 billion annually.
  • The Bank of Ghana aims to enhance its monetary policy and attract investment as the use of cryptocurrencies grows amid economic volatility.

The Bank of Ghana has announced plans to introduce a regulatory framework for cryptocurrency platforms, set to be submitted to parliament by September 2025.

This move comes as digital asset adoption surges across the country, with nearly 3 million adults, roughly 17% of the population, actively using crypto for savings, remittances, and business transactions.

According to Governor Johnson Asiama, the legislation will allow the nation to license crypto platforms, attract foreign investment, enable cross-border trade, and gather critical financial data absent from national accounts.

The regulatory push follows a year of economic volatility. The Ghanaian cedi soared 48% after a 25% drop in the previous year, pushing many residents to seek alternatives.

Crypto transactions in Ghana reached $3 billion between July 2023 and June 2024, signalling growing dependence on digital assets beyond the formal banking system.

Asiama acknowledged the lag in regulatory oversight, stating authorities are “actually late in the game” as many continue using crypto outside official frameworks.

Africa’s Broader Crypto Momentum

Ghana joins a growing list of African nations developing crypto regulations. South Africa has already approved 59 licenses, while Kenya’s Virtual Asset Service Providers Bill is being hailed as the continent’s most progressive.

Nigeria, meanwhile, accounted for $59 billion in crypto volume, nearly half of sub-Saharan Africa’s $125 billion total.

Global firms are eyeing the continent. Blockchain.com is opening Nigeria’s first major international crypto office this quarter, with plans to expand to Ghana, Kenya, and South Africa.

Visa and Circle have also launched African partnerships to support stablecoin payments and reduce cross-border costs.

Beyond regulation, Ghana is leading on innovation. It became the first African country to issue blockchain-based commemorative NFT stamps, and is currently piloting a central bank digital currency, the e-cedi, to modernise its financial system.

Edited by Annette George