Central Bank Sets August 15 Deadline for Mandatory Registration of Binance, Other Virtual Asset Service Providers
The Bank of Ghana has mandated all Virtual Asset Service Providers (VASPs) operating within the country to register with the central bank as part of efforts to strengthen oversight of the digital financial ecosystem and safeguard consumer interests.
In a notice issued on July 10, 2025, the Bank underscored the compulsory nature of the registration, which forms part of a preliminary regulatory process aimed at identifying and assessing entities engaged in virtual asset activities, including cryptocurrency exchange services, digital wallets, settlement services, and the issuance of virtual assets such as initial coin offerings (ICOs) and stablecoins.
The exercise, according to the Bank, seeks to ensure that future legal and regulatory frameworks governing virtual assets in Ghana are informed by both market developments and global best practices.
“All VASPs currently offering services to persons resident in Ghana, whether through physical presence or digital platforms, are required to complete the registration process,” the central bank stated, setting a deadline of August 15, 2025, for compliance.
The Bank of Ghana further clarified that registration does not constitute a licence to operate, nor does it imply legal recognition or approval of the entities involved. It added that failure to comply may result in regulatory sanctions or disqualification from future licensing opportunities.
The move signals the regulator’s growing focus on the rapidly expanding digital asset sector, which has so far operated in a largely unregulated environment. By introducing compulsory registration, the central bank aims to preempt risks associated with virtual assets while fostering innovation and financial stability.
