Following the passage of the virtual asset service providers (VASP) Act (Act 1154), the Bank of Ghana has launched the National Virtual Assets Literacy Initiative.
Strengthening Oversight and Consumer ProtectionThe urgency of NAVALI is underscored by the scale of the sector. Recent data suggests that nearly 3 million Ghanaians — roughly 17% of the adult population — are active in the digital asset market, with annual informal transaction volumes estimated at over $3 billion.
“Effective regulation and enforcement cannot be achieved by regulators alone,” said BoG Gov. Johnson Asiama. “The entire ecosystem must be adequately prepared through a sound understanding of virtual asset activities, their implications, and associated risks.”
Industry experts believe the combination of the new law and the NAVALI literacy program will supercharge Ghana’s fintech ecosystem, providing the green light international partners and local startups have been waiting for to build blockchain-driven solutions for remittances and cross-border trade.
FAQ Is cryptocurrency trading legal in Ghana under the new legislation? Trading and holding digital assets are now officially legal and regulated under the Virtual Asset Service Providers (VASP) Act, 2025 (Act 1154). What is the goal of the National Virtual Assets Literacy Initiative (NAVALI)? The Bank of Ghana launched NAVALI to educate the public on crypto risks and help users distinguish between licensed providers and fraudulent schemes. Who is responsible for regulating digital assets in Ghana? The Bank of Ghana and the Securities and Exchange Commission (SEC) share oversight, with the BoG handling payment systems and the SEC managing investment-focused activities. Does the new VASP Act mean cryptocurrency is now legal tender in Ghana? No, the Ghana Cedi remains the only official legal tender for debt settlement and public transactions despite the new legal framework for digital asset exchanges.
