Ghana Records Over $10bn in Crypto Transactions as SEC Defends New Regulatory Law
Ghana has recorded more than $10 billion in cryptocurrency transactions as of November 2025, underscoring the rapid expansion of virtual assets and the country’s growing exposure to digital finance, the Securities and Exchange Commission (SEC) has disclosed.
Speaking in an interview on Tuesday, December 30, 2025, Deputy Director-General of the SEC, Mensah Thompson, said the figure captures both inbound and outbound crypto transactions, reflecting the scale at which digital assets are being used in the country.
“Last year alone, about $6 billion worth of crypto transactions occurred. This year, as of November, we have crossed $10 billion. This is extremely significant and cannot be ignored,” he said.
The disclosure comes in the wake of President John Dramani Mahama’s assent to the Virtual Asset Service Providers (VASP) Bill, which formally brings Ghana’s digital assets ecosystem, including cryptocurrencies, under a regulated framework.
Mr Thompson explained that the sharp rise in crypto activity forced policymakers to confront the risks and opportunities presented by virtual assets, prompting discussions on whether to impose a ban or introduce a legal framework to ensure oversight.
“The country is overexposed to crypto assets. Rather than banning them, the government, together with the Bank of Ghana, the SEC and other stakeholders, opted to regulate the space. This allows real-time visibility and ensures that digital assets are used properly,” he said.
According to him, the VASP Bill, which took more than a year to develop, was shaped through extensive consultations with key stakeholders, including the Bank of Ghana, the Financial Intelligence Centre, the Cyber Security Authority, the Ministry of Finance and the Ghana Revenue Authority.
“This is one of the most consultative bills the government has ever passed. Stakeholders helped us identify and close loopholes in the virtual asset space,” Mr Thompson noted.
The new law seeks to legalise cryptocurrency-related activities, establish clear rules for operators, and protect the integrity of Ghana’s financial system, while supporting innovation in the fast-growing digital finance sector.
“We want to ensure that crypto activities in Ghana are done safely, transparently, and in a way that does not compromise financial stability,” he added.
