COINOTAG News, citing Bloomberg, reports that Ghana crypto regulation has taken a step forward as Ghanaian lawmakers approve a cryptocurrency legalization bill to address central bank concerns about the rapid uptake of digital assets without adequate regulation. The measure, titled the Virtual Asset Service Providers (VASP) Bill, lays the groundwork for licensing cryptocurrency exchanges and defining supervisory standards for related activities, signaling formal regulatory oversight in the West African economy.

In Accra, central bank governor Ernest Addison said the bill’s passage will enable a structured licensing framework for cryptocurrency exchanges and establish regulatory protocols for ancillary services. The move aims to reduce policy risk, improve market integrity, and align Ghana with international best practices on virtual assets, enhancing transparency and compliance norms for local participants.