BoG Governor Asiama Inaugurates Virtual Assets Committee
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BoG Governor Asiama Inaugurates Virtual Assets Coordinating Committee
Ghana’s push into digital finance regulation has reached a new milestone. Bank of Ghana Governor Dr Johnson Pandit Asiama has officially inaugurated the Virtual Assets Coordinating Committee, marking a key step in bringing structure to the country’s fast-growing virtual asset space.
The inauguration took place in Accra on Thursday, August 27.
Asiama traced the journey back to December 2025, when Ghana passed the Virtual Asset Service Providers Act something he described as a giant leap in the country’s digital finance journey.
That legislation didn’t come out of nowhere. It followed a National AML/CFT/PF Risk Assessment conducted in 2024, which uncovered just how widespread virtual asset use had become in Ghana, and how deeply intertwined it already was with the formal financial system. The findings made one thing clear: the sector urgently needed a proper legal and regulatory framework.
Fast forward to today, and that framework now exists as Act 1154. As Asiama put it, operational guidelines are currently being developed jointly by the Bank of Ghana and the Securities and Exchange Commission, alongside policy sandboxes from both institutions, with the goal of getting the Act fully operational by 2027.
One of the Act’s key requirements is the creation of this very Committee. It brings together representatives from the Bank of Ghana, the Securities and Exchange Commission, the Ministry of Finance, the Cyber Security Authority, and the Financial Intelligence Centre — with room to bring in other institutions as needed.
Asiama explained the reasoning behind such a broad coalition. Virtual assets, by their nature, don’t respect neat regulatory boundaries they demand coordination not just among domestic regulators, but with foreign counterparts and governments too.
He also flagged an interesting structural detail: under Section 5 of the Act, chairmanship of the Committee will rotate between the Bank of Ghana and the SEC. The Bank of Ghana takes the first turn, chairing for an initial two-year term before handing the role over to the SEC.
Given how closely virtual assets now intersect with the broader financial system, Asiama said the Committee will keep a close watch on any financial stability risks emerging from the sector.
Speaking in his capacity as Chairman of the Financial Stability Council, he made clear that aligning the Committee’s work with Ghana’s wider financial stability goals is something he sees as his own responsibility.
For Asiama, this inauguration represents more than a ceremonial milestone it’s the shift from having legislation on paper to actually building a functioning regulatory system around it. The Committee, he said, will provide the statutory platform needed for coordinated regulatory and supervisory action across all the relevant institutions.
Practically speaking, that means harmonised implementation of the Act and its subsidiary regulations, stronger information-sharing between agencies, coordinated responses when new risks emerge, and a sharper ability to tackle money laundering, terrorist financing, cybersecurity threats, and consumer protection issues tied to virtual assets.
Asiama used the occasion to thank the teams behind the effort — the Bank of Ghana’s Virtual Assets Department and their SEC counterparts, along with the Ministry of Finance, Cyber Security Authority, and Financial Intelligence Centre for their continued collaboration. He also congratulated everyone appointed to serve on the Committee, describing it as a significant national assignment and a mark of trust in their ability to deliver.
He didn’t hold back on urging seriousness from every member institution. Virtual assets and digital finance are evolving fast globally, he warned, leaving little room for a passive approach. Real coordination, timely information sharing, and a shared commitment to protecting the financial system’s integrity will all be essential if Ghana wants a virtual asset ecosystem that’s safe, well-regulated, and genuinely supportive of innovation and inclusion.
His closing hope was simple: that the Committee rises to the occasion, providing the strategic direction and coordinated oversight needed to protect consumers, safeguard financial stability, and support responsible growth of Ghana’s virtual asset space going forward.
