What happened?
Ghana’s central bank said it will have a virtual assets law ready for parliament by the end of 2025. The announcement came at the IMF meetings, even though the bank admits it still needs to hire and build a new enforcement team from scratch. The move follows heavy crypto usage in Ghana—about 3 million adults and roughly $3 billion in transactions over a year—alongside big cedi volatility.
Who does this affect?
Crypto users, remittance senders, fintechs and exchanges operating in Ghana will be directly affected because platforms will likely need licenses and new compliance rules. Banks, regulators and policymakers will gain more data and oversight but also face the practical challenge of staffing and enforcing the rules. International exchanges and investors watching Africa’s fast-growing market could change expansion or investment plans depending on how strict or clear the law turns out to be.
Why does this matter?
Clear regulation could legitimize the market, attract institutional players, and prompt exchanges to open local offices, boosting formal crypto activity in the region. Better reporting and licensing can help policymakers manage currency flows and monetary policy, but heavy compliance burdens or weak enforcement could push transactions back into informal channels. If Ghana actually staffs and enforces the law, it could reshape regional crypto markets and investor behavior by increasing formal volumes and integration with the banking system.