Ghana Moves to Regulate $3B Crypto Market by 2025

* Ghana plans to introduce crypto regulations by September 2025 to manage its $3 billion digital asset market. * The new framework aims to license service providers, stabilize the cedi, and increase financial oversight. On July 24, 2025, Bloomberg and Cryptopolitan reported that Ghana will introduce its first regulatory framework for cryptocurrencies by September 2025. This decision follows a period from July 2023 to June 2024 when the value of digital asset transactions in the country reached $3 billion. As a result, the government is introducing this legislation to formally regulate the growing crypto market and its widespread use across the nation. The Bank of Ghana (BoG) will present a bill to parliament to oversee and license virtual asset service providers. According to BoG Governor Johnson Asiama, the regulation will integrate cryptocurrencies into Ghana’s mainstream economy. He stated it will also improve financial oversight, boost transparency, and attract investment. In addition, the framework will increase tax revenue from the sector, which currently operates without legislative clarity. Beyond these objectives, the regulation is part of Ghana’s strategy to address the volatility of the Ghanaian cedi. The central bank expects that formalizing the crypto market will allow for better management of the national currency and improve economic data accuracy. Previously, unregulated crypto transactions limited the government’s ability to make precise economic forecasts. Currently, Ghana’s benchmark interest rate is 28%, while inflation fell to 13.7% as of June 2025. Cryptocurrency adoption has surged substantially in Ghana, where an estimated 3 million adults—roughly 17% of the nation's adult population—now rely on virtual currencies for various financial activities. Key drivers for this adoption include cross-border payments, daily transactions, and a growing mistrust of traditional banking systems. This trend in Ghana mirrors broader cryptocurrency adoption across Africa, where Nigeria, for example, recorded $59 billion in crypto transactions over the same period. The proposed legislation will establish operational standards for digital asset platforms, consumer protection measures, and tax obligations. It will also mitigate risks related to money laundering and cross-border fraud. This regulatory development positions Ghana as a potential hub for Africa’s expanding digital economy.