Bank of Ghana Governor Inaugurates Virtual Assets Coordinating Committee To Regulate Crypto Ecosystem
The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has officially inaugurated the Virtual Assets Coordinating Committee [VACC] to provide coordinated regulatory oversight for Ghana’s fast-growing virtual assets ecosystem.
The inauguration ceremony was held on Monday, August 25, 2026, at the 17th Floor of the Bank Square, Bank of Ghana, in Accra, and was attended by the First and Second Deputy Governors, the Director-General and Deputy Director-General of the Securities and Exchange Commission [SEC], and representatives of key financial sector institutions.
In his opening remarks, Dr. Asiama said the inauguration marks a critical transition from legislation to implementation following the enactment of the Virtual Asset Service Providers Act, 2025 [Act 1154] in December 2025.
He recalled that the need for regulation became urgent after Ghana’s National Anti-Money Laundering, Counter-Terrorist Financing and Proliferation Financing Risk Assessment conducted in 2024 revealed significant adoption and use of virtual assets in the country, with growing interconnectedness with the formal financial system.
“Ghana took a giant step in its digital finance journey in December 2025 when the Virtual Asset Service Providers Act was enacted. This was critically needed following the National AML/CFT/PF Risk Assessment which revealed significant adoption and use of virtual assets in Ghana,” he said.
Mandate Of The Committee
Dr. Asiama explained that Act 1154 provides for the establishment of the VACC, comprising representatives of the Bank of Ghana, the Securities and Exchange Commission, the Ministry of Finance, the Cyber Security Authority, and the Financial Intelligence Centre [FIC], with provision to co-opt other relevant institutions as needed.
He said the provision recognizes the multi-faceted nature of virtual assets and the need for closer coordination not only among domestic regulators but also with foreign counterparts.
He announced that in line with Section 5 of the Act, chairmanship of the Committee shall be rotational between the Bank of Ghana and the SEC, with the Bank of Ghana assuming the inaugural chairmanship for a term of two years, after which it will rotate to the SEC.
“Given the implications of virtual assets for the broader financial system, the Committee shall pay close attention to financial stability issues arising from this sector. As the Chairman of the Financial Stability Council, it will be my responsibility to ensure that the work of the Committee remains well aligned with our broader financial stability objectives,” Dr. Asiama stressed.
According to the Governor, the Committee will serve as the statutory platform for coordinated regulatory and supervisory actions, facilitate harmonized implementation of the Act and its subsidiary regulatory instruments, strengthen information sharing and inter-agency cooperation, support coordinated responses to emerging risks, and enhance Ghana’s ability to address money laundering, terrorist financing, cybersecurity, consumer protection and other risks associated with virtual assets.
He disclosed that operational guidelines are being developed by the Bank of Ghana and the SEC, alongside the implementation of policy sandboxes by both institutions, towards fully operationalising the Act by 2027.
Call For Seriousness
Dr. Asiama commended the Virtual Assets Department of the Bank of Ghana and counterparts at the SEC for their work in reaching the milestone, and thanked the Ministry of Finance, Cyber Security Authority and FIC for their collaboration.
He congratulated members nominated to serve on the Committee, describing it as a significant national assignment and a mark of trust in their capacity.
“The pace at which virtual assets and digital finance are evolving globally leaves us little room for a passive approach. Effective coordination, timely information sharing, and a shared commitment to safeguarding the integrity of our financial system will be essential if we are to build a virtual asset ecosystem that is safe, well-regulated, and supportive of innovation and inclusion,” he urged.
“It is my sincere hope that this Committee will rise to the occasion and provide the strategic direction and coordinated oversight needed to protect consumers, safeguard financial stability, and support the responsible development of Ghana’s virtual asset ecosystem,” he added, before formally declaring the Committee duly inaugurated.
