Ghana moves to build trusted digital assets ecosystem through regulation

Ghana is establishing itself as a regional leader in responsible digital asset innovation, according to speakers at the second edition of the Digital Asset Summit Africa in Accra. The country aims to create a secure, transparent ecosystem for virtual assets through a regulatory framework that promotes trust and stimulates economic growth.

Peter Frimpong Manso, CEO of ProMark Elite Limited and convener of the summit, emphasized that Africa should not fall behind in the digital asset revolution, highlighting how mobile money has transformed financial inclusion across the continent.

Manso stressed that innovation should progress alongside regulation and consumer protection, stressing the importance of building on existing trusted systems like mobile money. Blockchain, stablecoins, tokenization, and other digital technologies have the potential to expand access to financial services, unlock investments, and create new opportunities, he said.

The summit gathered regulators, policymakers, financial institutions, technology firms, investors, academics, and young innovators to develop a responsible digital asset ecosystem for Africa. The theme, "From Policy to Prosperity: Scaling Digital Assets for Investment, Jobs, and Economic Growth in Africa," underscored the need to translate policy into tangible economic outcomes.

Owurieku Asare, Director of Financial Technology and Innovation at the Bank of Ghana, noted that Ghana's financial sector has undergone significant transformation through digital technology adoption. Mobile money transactions surged from three billion in 2020 to nearly ten billion in 2025, totaling about GH¢4.5 trillion in value.

He emphasized that innovation flourishes when supported by robust institutions, credible regulations, and public confidence. The recently enacted Virtual Asset Service Providers Act, 2025 (Act 1154), provides the legal framework for regulating the emerging sector, with the creation of a Virtual Asset Coordinating Committee to enhance collaboration among regulators.

Industry operators must integrate compliance into their business models and engage regulators early to protect customer assets.

Philip Kwaw Sebuabe, Head of the Virtual Assets Department at the Bank of Ghana, stressed the importance of trust in building a successful digital assets market. Over three million Ghanaians are already involved in virtual asset activities, including trading, savings, and value transfers, with substantial flows of virtual assets passing through the country.

Act 1154 outlines the legal requirements for registering, licensing, and supervising virtual asset service providers. The Bank of Ghana, along with other regulatory bodies, is developing coordinated regulations based on the risks and functions associated with virtual assets, with a focus on cybersecurity, anti-money laundering controls, governance standards, and consumer protection.

Sebuabe called for stronger collaboration among African regulators, emphasizing that digital assets and financial risks transcend national boundaries, and stressed that trust remains essential in bridging the policy-prosperity gap.