The Bank of Ghana and the Securities and Exchange Commission have issued a stern directive to Virtual Asset Service Providers (VASPs) to immediately cease all unauthorized public marketing and promotional campaigns for virtual assets and stablecoins. In a joint public notice issued on February 20, 2026, regulators expressed concern over the proliferation of large-scale advertisements and billboards across Accra and other regions.
Under the newly enacted Virtual Asset Service Providers Act, 2025 (Act 1154), virtual asset advocacy is classified as a regulated activity requiring formal registration. Consequently, all providers who have mounted public advertisements have been given a 48-hour ultimatum to dismantle them or face severe legal sanctions.
This regulatory tightening aims to ensure consumer protection and operational integrity as the government prepares to issue detailed rules on advocacy and licensing transitions for existing providers.
In a contrasting development for the nation’s financial sector, Ghana has successfully retained its position as the world leader in mobile money regulation according to the 2025 GSMA Mobile Money Regulatory Index. The country achieved a record overall score of 96.10 percent, an improvement from its previous year’s rating of 95.06 percent.
The Global System for Mobile Communications Association, which evaluates regulatory effectiveness across 90 countries, highlighted Ghana’s framework as a global benchmark for fostering innovation and driving financial inclusion. The Bank of Ghana’s Communications Department noted that this milestone reflects a sustained commitment to progressive digital policies.
While the central bank continues to enforce strict boundaries on emerging virtual assets, it reaffirmed its dedication to collaborating with stakeholders to sustain Ghana’s status as a digitally empowered and inclusive economy.
Ruth Abla ADJORLOLO
