The Bank of Ghana (BoG) has assumed the inaugural two-year chairmanship of the newly established Virtual Assets Coordinating Committee (VACC), as Ghana moves to operationalise a comprehensive regulatory framework for the country’s rapidly expanding virtual asset sector.
Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, said the Committee would be critical to ensuring coordinated regulation and supervision of virtual assets while protecting consumers, safeguarding financial stability and supporting responsible innovation.
Speaking at the inauguration of the Committee at the Bank of Ghana in Accra on Tuesday, August 25, 2026, Dr Asiama said the pace at which virtual assets and digital finance were evolving globally left Ghana with “little room for a passive approach.”
He urged member institutions to prioritise effective coordination, timely information sharing and a shared commitment to safeguarding the integrity of the financial system.
The VACC was established under the Virtual Asset Service Providers Act, 2025 (Act 1154), which Dr Asiama described as a critical step in Ghana’s digital finance journey.
He said the legislation followed findings from Ghana’s 2024 National Anti-Money Laundering/Countering the Financing of Terrorism/Proliferation Financing (AML/CFT/PF) Risk Assessment, which revealed significant adoption and use of virtual assets in the country and growing interconnectedness between the sector and the formal financial system.
The assessment, he said, highlighted the urgent need for a legal and regulatory framework to govern the evolving sector. Under Act 1154, the Bank of Ghana and the Securities and Exchange Commission (SEC) have been designated as the key regulatory authorities, with operational guidelines currently being developed by both institutions.
The two regulators are also implementing policy sandboxes as part of efforts to fully operationalise the Act by 2027.
The Governor explained that the VACC would comprise representatives from the Bank of Ghana, SEC, Ministry of Finance, Cyber Security Authority and the Financial Intelligence Centre, with provision for other relevant institutions to be co-opted where necessary.
He said the composition reflected the multifaceted nature of virtual assets and the need for closer coordination among domestic regulators and competent authorities, as well as foreign counterparts and governments.
Rotational leadership
Dr Asiama said the chairmanship of the Committee would rotate between the Bank of Ghana and the SEC in accordance with Section 5 of Act 1154.
The Bank of Ghana will serve as chair for the first two years, after which the chairmanship will pass to the SEC and subsequently alternate between the two institutions.
Given the potential implications of virtual assets for the wider financial system, he said the Committee would pay particular attention to financial stability issues arising from the sector.
As Chairman of the Financial Stability Council, Dr Asiama said he would ensure that the work of the Committee remained aligned with Ghana’s broader financial stability objectives.
Coordinated response
According to the Governor, the inauguration marked an important transition from the enactment of the virtual asset legislation to the establishment of an effective, coordinated and sustainable regulatory framework.
He said the Committee would provide the statutory platform for coordinated regulatory and supervisory action among the relevant institutions.
Its work would include harmonising the implementation of Act 1154 and its subsidiary regulatory instruments, strengthening information sharing and inter-agency cooperation, and supporting coordinated responses to emerging risks.
The Committee would also enhance Ghana’s ability to address money laundering, terrorist financing, cybersecurity, consumer protection and other risks associated with virtual assets.
Dr Asiama urged the institutions represented on the Committee to approach the assignment with the seriousness it deserved, stressing that Ghana needed to balance regulation with the opportunities presented by digital finance.
He said the ultimate objective should be to build a virtual asset ecosystem that was safe, well-regulated and supportive of innovation and financial inclusion.
“It is my sincere hope that this Committee will rise to the occasion and provide the strategic direction and coordinated oversight needed to protect consumers, safeguard financial stability, and support the responsible development of Ghana’s virtual asset ecosystem,” he said.
The Governor commended the Bank of Ghana’s Virtual Assets Department and its counterparts at the SEC for their work towards the establishment of the Committee.
He also acknowledged the Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre for their collaboration and commitment to the regulatory agenda.
He congratulated members nominated to serve on the Committee, describing their appointment as a significant national assignment and a mark of confidence in their capacity to deliver.
Dr Asiama subsequently declared the Virtual Assets Coordinating Committee duly inaugurated.
