CDABI-GH commends passage of Ghana’s Virtual Asset law

The Chamber of Digital Assets and Blockchain Innovation (CDABI-GH) has commended the Bank of Ghana (BoG), the Securities and Exchange Commission (SEC) and Parliament for the passage of Ghana’s Virtual Asset law, describing it as a major milestone in bringing clarity and credibility to the country’s digital asset ecosystem.

In a statement issued in Accra, the Chamber said the new law provides a clear signal that while Ghana is open to innovation, it is equally committed to responsibility, consumer protection and market discipline.

According to CDABI-GH, the legislation marks Ghana’s transition from regulatory uncertainty to a structured and supervised digital asset environment.

The Chamber praised the Governor of the Bank of Ghana and the VASP policy and technical teams, as well as the Director-General of the Securities and Exchange Commission and officials of the Commission, for what it described as their discipline, foresight and commitment to the national interest.

It noted that their work has helped translate a complex and fast-evolving sector into a more governed and investable market.

CDABI-GH said the Virtual Asset Act goes beyond providing legal recognition for digital assets, as it establishes the safeguards consumers require, the certainty investors seek and the framework regulators need to supervise the market effectively.

The Chamber added that the law gives regulators clearer authority to oversee virtual asset service providers and related activities, while setting compliance standards for operators.

The Chamber also commended Parliament for passing the legislation without undue delay, noting that the decision reflects a preference for thoughtful regulation over hesitation. According to the statement, the move positions Ghana to shape its digital finance future rather than react to developments elsewhere.

Ghana’s digital asset and blockchain space has expanded rapidly in recent years, driven by growing interest in cryptocurrencies, blockchain applications and financial technology solutions.

However, the absence of a comprehensive legal framework had raised concerns about consumer protection, market integrity and regulatory oversight. Industry players and regulators have repeatedly highlighted the need for clear rules to guide innovation while managing associated risks.

CDABI-GH said the new law addresses these concerns by providing certainty for market participants and strengthening confidence among local and international investors. It added that the framework is expected to support sustainable growth of the sector by balancing innovation with accountability.

As an industry stakeholder, the Chamber pledged its support to the Bank of Ghana and the Securities and Exchange Commission during the implementation of the law. It said its role will include promoting compliance, building capacity within the industry, educating market participants and supporting responsible innovation across the digital asset ecosystem.

According to CDABI-GH, the passage of the Virtual Asset law represents a defining moment in Ghana’s digital development, laying the foundation for a more mature, trusted and well-regulated digital asset market aligned with broader financial sector stability and economic growth objectives.

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