Ghana to License Cryptocurrency Platforms Amid Surging Demand
Ghana is gearing up to license cryptocurrency platforms in response to a growing interest in digital assets within the West African nation, as reported by Bloomberg. The country’s central bank is in the final stages of drafting a regulatory framework, which is expected to be presented to parliament by September. This move comes as a strategic effort to capitalize on the increasing demand for cryptocurrencies and to gain better control over the country’s fiat currency.
The Ghanaian cedi has shown significant volatility against the U.S. dollar, with a growth of over 40% in 2025 following a 20% decline the previous year. This fluctuation has posed challenges for the central bank in managing inflation. Governor Johnson Asiama of the Bank of Ghana expressed the belief that regulating the crypto sector will enable the country to generate revenue and monitor the flow of digital assets more effectively.
One of the key concerns highlighted by Asiama is the lack of visibility on cryptocurrency transactions, which are not currently accounted for in the country’s financial records. An estimated 17.3% of Ghanaian adults, roughly 3 million individuals, are cryptocurrency owners, according to a report by Zawya. In the 12 months leading up to June 2024, cryptocurrency transactions in Ghana amounted to $3 billion out of a total of $125 billion for the entire sub-Saharan Africa region.
Del Titus Bawuah, CEO of Web3 Africa Group, emphasized the significance of regulating the crypto sector to ensure transparency and compliance with financial regulations. The move to license cryptocurrency platforms is seen as a proactive step towards harnessing the potential of digital assets while safeguarding the stability of Ghana’s financial ecosystem.
As Ghana moves towards formalizing its regulatory framework for cryptocurrencies, the country aims to position itself as a hub for digital innovation and financial inclusion. By embracing the evolving landscape of digital assets, Ghana is poised to unlock new opportunities for economic growth and technological advancement in the region.