Gov’t Moves to Tighten Oversight of Virtual Assets as SEC Rolls Out New Regulatory Framework
Ghana has taken one of its most significant steps yet toward regulating digital finance, with the Securities and Exchange Commission (SEC) announcing the implementation of a new legal framework governing virtual assets, in a move officials say is designed to balance innovation with financial stability.
Speaking at the 3i Africa Summit in Accra, Deputy Director-General of Operations at the SEC, Mr. Mensah Thompson, said the passage and enforcement of the Virtual Asset Act, 2025 (Act 1154) marks a turning point for the country’s financial sector, formally bringing crypto-related activity under statutory oversight.
The legislation, which was assented to by the President on December 24, 2025, is being described by regulators as one of the most consequential additions to Ghana’s financial regulatory architecture in recent years.
According to Thompson, Ghana now joins a small group of African jurisdictions that have established formal legal frameworks for virtual assets, alongside South Africa and Kenya. However, he argued that Ghana is positioning itself ahead in terms of execution, having already rolled out a regulatory sandbox to test market activity under controlled conditions.
Under the programme, selected firms have been admitted to operate within defined regulatory parameters while the SEC monitors risks, compliance behaviour and product innovation. The sandbox is supported by published guidelines and is intended to generate data that will inform long-term standards for exchanges, custody services, trading platforms and asset tokenisation models.
Thompson said the approach is designed to allow regulators to “observe market behaviour in real time” while identifying vulnerabilities before full-scale market expansion.
A key feature of the framework is its activity-based regulatory model, which avoids a single licensing regime in favour of categorising oversight based on service type. Under this structure, the SEC will supervise crypto exchanges, trading platforms and tokenised real-world assets, while the Bank of Ghana will regulate wallet services, payment infrastructure and fiat-backed stablecoins.
To improve coordination between the two institutions, the law establishes a joint Virtual Assets Committee co-chaired by the SEC and the central bank. The committee is expected to close regulatory gaps, align supervisory approaches and monitor emerging risks across the digital asset ecosystem.
Officials say the broader policy objective is to support fintech innovation while maintaining safeguards around consumer protection, financial integrity and systemic stability, as Ghana’s digital finance sector continues to expand rapidly.
