The Bank of Ghana is finalizing a draft bill on licensing cryptocurrency platforms. The document is expected to be submitted to the country’s parliament by September 2025.
The Bank of Ghana (BoG) plans to send a legislative initiative regulating the licensing of crypto platforms to parliament. Authorities aim to introduce regulation of the digital asset market, which is already used by about 3 million citizens. This was stated to Bloomberg by Johnson Asiama, Governor of BoG.
According to the official, the upcoming law will legalize the activities of crypto platforms, opening access to strategic investments, simplifying cross-border trade, and strengthening control over financial flows. “We are actually late in the game,” he noted, pointing out that a significant portion of transactions are conducted in cryptocurrencies and not accounted for in the country’s financial system.
From July 2023 to June 2024, the volume of crypto transactions in Ghana reached $3 billion. This is about 2.4% of the $125 billion recorded in Sub-Saharan African countries during the same period. For comparison, Nigeria’s crypto transaction volume reached $59 billion. According to Web3 Africa Group estimates, about 17% of Ghana’s adult population actively uses digital assets.
Amid high volatility of the national currency, the cedi, crypto market regulation is also seen as a tool for stabilization. The cedi appreciated by 48% over the past year, offsetting a 25% decline in the previous period. Nevertheless, a high key interest rate of 28% alongside 13.7% inflation as of June 2025 continues to put pressure on the economy.
Kwame Oppong, Head of FinTech at the Bank of Ghana, told Bloomberg that the regulator’s goal is to build a safe infrastructure considering citizens’ current activity in the digital asset market.
Cryptocurrencies can also address the shortage of dollar liquidity in cross-border trade, said Craig Stoehr, General Counsel of pan-African stablecoin platform Yellow Card. Yellow Card is a partner of PayPal in a project using the PYUSD stablecoin to optimize international payments between African countries.
