Ghana passes new law legalizing cryptocurrency trading and plans to explore gold-backed stablecoins.

According to Odaily, the Ghanaian Parliament has passed a bill on virtual asset service providers, officially legalizing cryptocurrency trading and related digital asset activities. The bill stipulates that individuals and entities engaged in digital asset activities must register with the Central Bank of Ghana or the Securities and Exchange Commission, depending on the nature of their business.

In his speech, Bank of Ghana President Johnson Asiama stated that the bill lays the foundation for licensing and oversight of industry participants, ensuring that emerging activities are brought under a transparent and regulated framework. Johnson Asiama explicitly stated that after the bill's passage, no one will be arrested for trading cryptocurrencies. Furthermore, Ghana plans to conduct specific explorations in payments, trade finance, and market infrastructure in 2026, including research into asset-backed digital settlement tools such as gold-backed stablecoins. According to estimates by Web3 Africa Group, Ghana processed approximately $3 billion in cryptocurrency transactions between July 2023 and June 2024.