Ghana's SEC Expands Crypto Sandbox to 20 Participants with Notable Additions

Ghana's Securities and Exchange Commission (SEC) has expanded its regulatory sandbox to include nine new companies, bringing the total number of participants to 20. The additions include Yellow Card and the Ghana Commodity Exchange (GCX), which will test their digital asset products under the commission's supervision.

The SEC launched a one-year sandbox in March for digital asset companies, initially admitting 11 participants. This latest expansion adds more blockchain projects and companies to the pilot activity, with notable additions including Yellow Card's Ghanaian subsidiary and GCX.

The new participants will test their products under the commission's supervision, marking the next step towards a licensing regime for Virtual Asset Service Providers (VASPs) in Ghana. The VASP Bill, passed into law by Ghana's parliament last December, gives regulators oversight of crypto activities.