The Governor of the Financial institution of Ghana, Dr Johnson Pandit Asiama, has introduced that cryptocurrency trading has been legalised in Ghana following the passage of the Digital Asset Service Suppliers Invoice, 2025, into law.
He defined that the new laws, generally known as the crypto law, offers a proper regulatory framework to oversee digital asset actions and handle the dangers related with digital currencies.
Dr Asiama mentioned the transfer ends uncertainty surrounding crypto transactions, whereas permitting the authorities to implement oversight and shopper safety throughout the nation.
Talking on the annual 9 Classes, Carols and Thanksgiving Service of the Financial institution of Ghana on the Financial institution Sq. in Accra on December 19, the Governor burdened that the law was a key step in direction of stronger regulation, improved supervision and a extra resilient monetary system.
“Successfully, digital belongings trading is now authorized and nobody goes to be arrested for doing crypto, however we now have the framework to handle the dangers concerned,” he mentioned.
On shopper safety, Dr Asiama acknowledged that the legalisation of cryptocurrency trading doesn’t quantity to a free for all, however moderately the introduction of agency guidelines to guard shoppers and the monetary system.
He mentioned the new law empowers the Financial institution of Ghana to license, supervise and monitor entities working within the digital asset house.
In response to him, the absence of regulation up to now uncovered customers to fraud, cash laundering and systemic dangers, which the new framework seeks to deal with.
“What this implies is that now we’ve got the framework to handle it and to handle the dangers that may contain that sort of exercise,” he mentioned.
He added that techniques had been being put in place to make sure transparency, accountability and compliance because the sector grows.
Dr Asiama mentioned the crypto law was additionally supposed to assist innovation and develop monetary inclusion, significantly amongst younger folks and expertise pushed entrepreneurs.
He famous that many Ghanaians, particularly the youth, had been already actively concerned in digital belongings regardless of the earlier authorized uncertainty.
By formalising the sector, he mentioned Ghana may now harness the advantages of blockchain expertise whereas limiting its downsides.
He burdened that regulation would assist appeal to credible buyers and fintech companies into the nation, create jobs and assist financial diversification.
“These aren’t simply authorized milestones; they’re enablers of higher insurance policies, stronger supervision and more practical regulation,” he acknowledged, including that innovation should thrive inside a secure and effectively ruled monetary surroundings.
Pertaining to monetary stability, the Governor mentioned the passage of the crypto law, alongside amendments to the Financial institution of Ghana Act, displays classes realized from previous financial shocks and the necessity to safeguard institutional credibility.
Whereas welcoming the progress made, he cautioned that dangers haven’t disappeared and known as for vigilance because the nation operates in an unsure international financial surroundings.
“The progress provides us room to maneuver, however it additionally requires duty and vigilance,” he mentioned.
He assured the general public that the central financial institution stays dedicated to sustaining stability whereas supporting innovation within the monetary sector.
On the amendments to the Financial institution of Ghana Act, Dr Asiama mentioned the adjustments had been geared toward stopping a recurrence of the home debt change and governance lapses that characterised the 2022 disaster.
He defined that the revised law strengthens the central financial institution’s independence, governance buildings and operational safeguards to guard the economic system and buyers.
“The amendments we’ve got made be certain that the type of debilitating actions we noticed in 2022 won’t ever occur once more,” he mentioned.
The annual 9 Classes, Carols and Thanksgiving Service was attended by present and former workers of the Financial institution of Ghana, heads of banks and different monetary establishments.
Amongst these current had been a former Minister of Finance, Seth Terkper; the Chief Govt Officer of the Ghana Affiliation of Banks, John Awuah; the First Deputy Governor, Dr Zakari Mumuni; and the Second Deputy Governor, Matilda Asante Asiedu.
The service was held on the theme “Oh, give because of the Lord, for He’s good! For His mercy endures perpetually”.
The Founder and Basic Overseer of Motion Chapel Worldwide, Archbishop Nicholas Duncan Williams, who led the exhortation, inspired Ghanaians to domesticate the behavior of gratitude.
“Exhibiting gratitude ensures progress in life,” he mentioned.
