Parliament Passes Virtual Asset Service Providers Bill
Parliament has passed the Virtual Asset Service Providers (VASPs) Bill, marking a major step toward the regulation of virtual assets in Ghana. The passage of the Bill establishes a comprehensive legal framework for overseeing virtual asset activities and the entities that provide related services.
In a statement, the Bank of Ghana announced that the new law will require persons and entities engaged in virtual asset activities to obtain the appropriate licensing or registration. Depending on the nature of the activity, regulatory oversight will fall under either the Bank of Ghana or the Securities and Exchange Commission (SEC).
Although the Act has been passed, its effective date is yet to be announced. The Bank of Ghana and the SEC indicated that, in the coming months, they will issu...