{"id":18817,"date":"2026-08-27T14:20:33","date_gmt":"2026-08-27T14:20:33","guid":{"rendered":"https:\/\/gnbcc.net\/?p=18817"},"modified":"2026-08-28T12:37:05","modified_gmt":"2026-08-28T12:37:05","slug":"bog-sec-seek-tighter-oversight-of-fast-growing-virtual-asset-market","status":"publish","type":"post","link":"https:\/\/gnbcc.net\/bog-sec-seek-tighter-oversight-of-fast-growing-virtual-asset-market\/","title":{"rendered":"BoG, SEC seek tighter oversight of fast-growing virtual asset market"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Bank of Ghana (BoG) and Securities and Exchange Commission (SEC) have inaugurated a Virtual Asset Coordination Committee to strengthen oversight of Ghana\u2019s fast-growing digital asset market, as regulators prepare to fully operationalise the Virtual Asset Service Providers Act by 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The committee brings together the BoG, SEC, Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre to coordinate regulatory and supervisory action across a sector that increasingly overlaps with the formal financial system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BoG Governor Dr. Johnson Pandit Asiama said the move marks a transition from legislation to the establishment of an operational regulatory framework for virtual assets, following the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154), in December last year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The legislation followed Ghana\u2019s 2024 national anti-money laundering and countering the financing of terrorism risk assessment, which identified significant adoption and use of virtual assets and growing interconnections with the formal financial system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Operational guidelines are being developed by the BoG and SEC, alongside policies and regulatory measures aimed at fully implementing the law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under Section 5 of the Act, the committee will coordinate implementation of the legislation and its subsidiary instruments, improve information sharing among regulators and support joint responses to emerging risks. Its mandate also covers risks relating to money laundering, terrorist financing, cybersecurity, consumer protection and financial stability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BoG will hold the inaugural chairmanship for two years, after which the role will rotate to the SEC.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dr. Asiama said the speed of change in virtual assets and decentralised finance requires regulators to work more closely and share information more quickly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe pace at which virtual assets and digital finance are evolving globally leaves us little room for a passive approach,\u201d he said, adding that effective coordination will be needed to safeguard the financial system&#8217;s integrity while supporting innovation and inclusion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The committee comprises Mr. Elhanan Owureku Asare and Mr. Philip Kwaw Sebuabe from the BoG; Mr. Emmanuel Mensah Thompson and Mr. Richard Kwame Dusi from the SEC; Patience Arko Boham from the Ministry of Finance; Mr. Stephen Cudjoe-Seshie from the Cyber Security Authority; and Mr. Benjamin Ofori from the Financial Intelligence Centre.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SEC Director-General Dr. James Kluse Avedzi said the committee is designed to address regulatory blind spots created by products that cut across traditional institutional boundaries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He noted that tokenised assets, stablecoins and decentralised finance protocols can simultaneously raise securities, banking, payments and financial intelligence concerns, making fragmented oversight inadequate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The committee is expected to coordinate areas where SEC\u2019s oversight of exchanges and tokenised assets intersects with BoG\u2019s supervision of wallets, payment systems and other financial infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dr. Avedzi said Ghana\u2019s ambition to become a credible jurisdiction for virtual assets in West Africa and across the continent will depend on whether investors and market participants have confidence in the regulatory framework.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The committee&#8217;s immediate test will be translating the law into consistent supervisory practice as BoG and SEC develop licensing and operational frameworks. Its effectiveness will depend on whether member institutions can align their regulatory approaches and respond quickly to new products and risks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis committee is not designed to slow you down. It is designed to make the ground you build on solid enough to last,\u201d Dr. Avedzi said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Source: <a href=\"https:\/\/thebftonline.com\/article\/bog-sec-seek-tighter-oversight-of-fast-growing-virtual-asset-market\" rel=\"nofollow noopener\" target=\"_blank\">B&amp;FT.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ghana strengthens regulatory oversight of its growing virtual asset market ahead of the full implementation of the Virtual Asset Service Providers Act by 2027.<\/p>\n","protected":false},"author":12,"featured_media":18818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[153],"tags":[],"class_list":["post-18817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-articles"],"jetpack-related-posts":[{"id":15900,"url":"https:\/\/gnbcc.net\/bog-pushes-digital-finance-beyond-payments\/","url_meta":{"origin":18817,"position":0},"title":"BoG pushes digital finance beyond payments\u00a0\u00a0\u00a0\u00a0","author":"Grace Agorigo","date":"May 8, 2026","format":false,"excerpt":"The Bank of Ghana is broadening its digital finance agenda beyond payments into areas such as digital credit, embedded finance and cross-border financial services, as African policymakers intensify efforts to build interoperable financial systems capable of supporting regional trade and economic integration. Speaking at the 3i Africa Summit in Accra,\u2026","rel":"","context":"In &quot;News Articles&quot;","block_context":{"text":"News Articles","link":"https:\/\/gnbcc.net\/category\/news-articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/SNBN-4.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/SNBN-4.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/SNBN-4.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/SNBN-4.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/SNBN-4.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":15929,"url":"https:\/\/gnbcc.net\/bog-to-launch-continental-fintech-sandbox-innovation-hub\/","url_meta":{"origin":18817,"position":1},"title":"BoG to launch continental fintech sandbox, innovation hub","author":"Michael Teye","date":"May 15, 2026","format":false,"excerpt":"The Bank of Ghana plans to establish a continental fintech sandbox, launch a national innovation hub and introduce a separate legal framework for fintech regulation, as the central bank steps up efforts to position Ghana as a regional digital finance hub.","rel":"","context":"In &quot;News Articles&quot;","block_context":{"text":"News Articles","link":"https:\/\/gnbcc.net\/category\/news-articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/fintech-launch.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/fintech-launch.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/fintech-launch.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/fintech-launch.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/fintech-launch.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":16925,"url":"https:\/\/gnbcc.net\/bog-revokes-zeepay-licence-over-regulatory-breaches\/","url_meta":{"origin":18817,"position":2},"title":"BoG revokes Zeepay licence over regulatory breaches","author":"Paul N.","date":"July 17, 2026","format":false,"excerpt":"The Bank of Ghana (BoG) has withdrawn Zeepay Ghana Ltd\u2019s DEMI licence after investigations revealed regulatory breaches, including the issuance of electronic money without maintaining the required cash backing. The central bank said the action was taken to protect customers, agents and merchants while preserving confidence in Ghana\u2019s electronic payments\u2026","rel":"","context":"In &quot;News Articles&quot;","block_context":{"text":"News Articles","link":"https:\/\/gnbcc.net\/category\/news-articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/07\/ESQ-Elsie-24.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/07\/ESQ-Elsie-24.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/07\/ESQ-Elsie-24.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/07\/ESQ-Elsie-24.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/07\/ESQ-Elsie-24.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":16070,"url":"https:\/\/gnbcc.net\/inflation-adjusted-private-sector-credit-up-24-5\/","url_meta":{"origin":18817,"position":3},"title":"Inflation-adjusted private sector credit up 24.5%","author":"Grace Agorigo","date":"May 29, 2026","format":false,"excerpt":"Private sector lending witnessed a marked uptick by April 2026, as falling interest rates shifted the economics of credit deployment away from government paper and toward private borrowers, the latest Bank of Ghana (BoG) data has shown. Real private sector credit grew 24.5 percent year-on-year in April 2026, reversing a\u2026","rel":"","context":"In &quot;News Articles&quot;","block_context":{"text":"News Articles","link":"https:\/\/gnbcc.net\/category\/news-articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/ESQ-Elsie-21.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/ESQ-Elsie-21.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/ESQ-Elsie-21.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/ESQ-Elsie-21.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/05\/ESQ-Elsie-21.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":18686,"url":"https:\/\/gnbcc.net\/boost-productive-sector-lending-bog\/","url_meta":{"origin":18817,"position":4},"title":"Boost productive-sector lending &#8211; BoG","author":"Paul N.","date":"August 20, 2026","format":false,"excerpt":"The Bank of Ghana has urged banks to translate easing financial conditions and stronger credit growth into increased financing for productive sectors, particularly SMEs and agricultural value chains.","rel":"","context":"In &quot;News Articles&quot;","block_context":{"text":"News Articles","link":"https:\/\/gnbcc.net\/category\/news-articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/08\/ESQ-Elsie-20.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/08\/ESQ-Elsie-20.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/08\/ESQ-Elsie-20.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/08\/ESQ-Elsie-20.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2026\/08\/ESQ-Elsie-20.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":14080,"url":"https:\/\/gnbcc.net\/stage-set-for-multi-year-low-inflation-era-bog-governor\/","url_meta":{"origin":18817,"position":5},"title":"Stage set for multi-year low-inflation era \u2013 BoG Governor","author":"Michael Teye","date":"November 28, 2025","format":false,"excerpt":"The economy is entering what the Bank of Ghana says could be a sustained period of price stability, with inflation projected to settle between 4 percent and 6 percent by year-end and remain within the target band through 2026.","rel":"","context":"In &quot;News Articles&quot;","block_context":{"text":"News Articles","link":"https:\/\/gnbcc.net\/category\/news-articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2025\/11\/BO.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2025\/11\/BO.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2025\/11\/BO.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2025\/11\/BO.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/gnbcc.net\/wp-content\/uploads\/2025\/11\/BO.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/gnbcc.net\/wp-content\/uploads\/2026\/08\/ESQ-Elsie-40.jpg","_links":{"self":[{"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/posts\/18817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/comments?post=18817"}],"version-history":[{"count":2,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/posts\/18817\/revisions"}],"predecessor-version":[{"id":18892,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/posts\/18817\/revisions\/18892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/media\/18818"}],"wp:attachment":[{"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/media?parent=18817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/categories?post=18817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gnbcc.net\/wp-json\/wp\/v2\/tags?post=18817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}