Ghana will introduce a licensing regime for Bitcoin and other cryptocurrency platforms by September 2025, the central bank announced.

According to Coin Otag News, the central bank of the West African country hopes to regulate nearly $3bn in annual crypto transactions and improve oversight of digital assets increasingly used outside formal financial systems.

The Bank of Ghana is finalising a framework to bring digital asset platforms under its supervision, responding to the growing influence of cryptocurrencies in Ghana’s economy and the need for more accurate financial data.

“We are actually late in the game,” Governor Johnson Asiama told reporters, underlining the urgency of formal regulation. 

“Many of these transactions are not captured in the national accounts,” he said. “Licensing will enable us to monitor payments more effectively and support inflation targeting and exchange rate management.”

Between July 2023 and June 2024, Ghanaians transacted nearly $3bn in cryptocurrencies, with about three million active users - roughly 17% of the adult population. Despite this significant uptake, the sector remains unregulated, making it harder for authorities to track money flows and assess economic risks.

The push comes amid broader regional efforts to integrate digital assets into national financial systems. While Ghana’s market is expanding rapidly, Nigeria leads sub-Saharan Africa with $59bn in crypto transactions in the same period, contributing to a regional total of $125bn.

Ghana’s economy remains under pressure, with inflation standing at 13.7% in June 2025 and the policy interest rate at 28% - the highest real rate in two decades. The cedi has appreciated by 48% over the past year, reversing a prior 25% depreciation. Officials hope that incorporating crypto data will improve macroeconomic management and financial stability.

“Bringing these platforms under regulation will allow for better data collection and enhance trust in digital markets,” said Asiama. “It will also support the integration of cryptocurrencies into the formal economy, benefitting consumers and businesses.”

The Bank of Ghana expects to submit the licensing framework to parliament by September 2025.