The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has called for a balanced regulatory framework for virtual assets, emphasising the need to encourage innovation while safeguarding monetary and financial stability and maintaining confidence in the Ghana cedi.
He said the rapid growth of digital financial services and virtual assets required regulations that protected consumers and investors without unnecessarily restricting innovation in the sector.
Dr Asiama made the remarks at the African Virtual Assets Summit (AVAS) 2026 on Monday, November 2.
He stressed that regulating the virtual asset industry did not require an excessively restrictive approach, arguing that different activities within the sector presented varying levels of risk and should be regulated according to their nature, scale and complexity.
“This does not call for heavy-handed regulation at all. Not all virtual asset activities present the same risk, and our approach must reflect their nature, their scale and complexity,” he said.
According to the Governor, building trust in the sector was critical to ensuring that innovation could thrive without exposing consumers, investors and the broader financial system to unnecessary risks.
He identified consumer and investor protection, the safeguarding of customer assets, financial integrity and strong links with the traditional financial system as essential pillars for building confidence in the virtual asset industry.
“Trust is not the opposite of innovation; it is what allows innovation to grow. And it is earned through the way innovation is governed and operated,” he stated.
Ghana establishes legal framework for virtual assets
Dr Asiama said Ghana had made significant progress towards regulating the sector following the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154).
The legislation establishes a dedicated legal framework for virtual asset activities and provides for coordinated regulatory oversight by the Bank of Ghana and the Securities and Exchange Commission (SEC).
However, he cautioned that the passage of the legislation marked only the beginning of the regulatory process, stressing that its success would depend largely on effective implementation and enforcement.
“The real test will be translating this law into a credible and enforceable framework that gives responsible firms and investors the certainty they need to build and to invest with confidence,” he said.
The Governor noted that effective implementation of the law would be crucial to positioning Ghana as a trusted destination for responsible innovation and investment in the virtual asset industry.
He reiterated that developments within the digital economy must complement rather than undermine the country’s financial system.
Dr Asiama added that public confidence, appropriate regulatory safeguards and financial stability must remain central to Ghana’s adoption and development of emerging financial technologies.
