Ghana Prepares to Regulate $21 Billion Crypto Market
Ghana is preparing to bring its $21 billion cryptocurrency market under formal supervision. The International Monetary Fund has estimated annual crypto transactions in Ghana at around $21 billion, making it one of sub-Saharan Africa's largest markets.
The new regulatory system, scheduled to become operational in December 2026, will divide responsibilities between the Bank of Ghana and the Securities and Exchange Commission. The BoG will oversee stablecoin issuance and dealing, crypto wallets, payment processing, Bitcoin ATMs, mining, validation, and crypto lending and borrowing.
The SEC will be responsible for trading platforms, initial coin offerings, asset tokenization, crypto exchange-traded funds, fund management, brokers, and investment advisory services. Activities will be divided between licensing, registration, and regulatory sandboxes, with higher-risk businesses requiring licenses and facing greater scrutiny.