UPSA Law School Roundtable charts path for regulating digital assets in Ghana
The University of Professional Studies, Accra (UPSA) has led a national conversation on regulating Ghana’s fast-growing digital asset space, with experts calling for a balance between innovation, consumer protection and financial stability.
The University of Professional Studies, Accra (UPSA) has spearheaded a national discussion on the regulation of Ghana's rapidly expanding digital asset sector. During the 2026 edition of the 14th Absa-UPSA Law School Quarterly Banking Roundtable, industry experts emphasized the need to strike a balance between innovation, consumer protection, and financial stability.
Organized in collaboration with Absa Bank Ghana, the forum focused on the theme: "Digital Assets Regulation in Ghana: Navigating Opportunities and Risks." The Bank of Ghana's Virtual Assets Department was represented by Tahiru Alhassan, Head of Oversight and Compliance, who highlighted key aspects of the country's new Virtual Asset Service Providers Act.
Alhassan explained that the law adopts a risk-based and technology-neutral approach, avoiding an outright ban or a completely unregulated market. He emphasized that regulators employed a pre-legislative policy sandbox to evaluate emerging business models before finalizing the operational framework. Consumer protection was identified as a central pillar of the regime, with strict requirements on capital adequacy, custody of client assets, and adherence to anti-money laundering and counter-terrorist financing rules.
Kwesi Dadzie-Yorke Esq., a fintech law expert and Co-Founder of Asiedu & Yorke, hailed the Act as a significant stride towards granting the digital asset sector regulatory legitimacy. Though he acknowledged challenges such as fraud, high compliance costs, and counterparty risks, he urged industry players to implement automated sanctions-screening systems and robust contractual safeguards.
Experts agreed that Ghana's principles-based framework allows for adaptability to new developments like tokenization, decentralized finance, and stablecoins. However, Alhassan cautioned against foreign currency-backed stablecoins, deeming them as "dollarization on the blockchain." He advocated for testing cedi-backed stablecoins within a regulatory sandbox.
Director of the UPSA Law School, Prof. Kofi Abotsi, noted that the roundtable serves as a bridge between academic research and regulatory/industry expertise to support Ghana's digital financial transformation.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
