Ghana’s financial authorities have taken a firm stance on the marketing of digital currencies. In a joint public notice issued in February 2026, the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) warned against unauthorised advertising of virtual assets and stablecoins, directing all Virtual Asset Service Providers (VASPs) to halt such activities immediately.
The regulators highlighted a surge in promotional efforts, including large billboards in Accra and other areas, by certain VASPs. They clarified that mass marketing or public campaigns related to virtual assets require explicit approval from both the BoG and SEC. This applies even to providers operating in regulatory sandboxes, where testing occurs under oversight. The notice gave a 48-hour window for removing existing advertisements, with threats of severe sanctions for non-compliance.
The directive stems from the Virtual Asset Service Providers Act, 2025 (Act 1154), passed late last year, which classifies virtual asset advocacy as a regulated activity needing formal registration and licensing. While the law recognises digital assets and sets up oversight—primarily led by the BoG with SEC coordination—full licensing procedures are still rolling out. The sandbox framework allows limited operations for approved participants, but promotional freedoms remain tightly controlled to protect consumers and maintain financial stability.
Ghana’s approach reflects caution around cryptocurrencies, building on earlier warnings and restrictions. The move aims to curb potential risks like misleading promotions, money laundering concerns, and market volatility exposure before widespread adoption. VASPs must now await clear guidelines on authorised marketing.
This enforcement signals Ghana’s proactive regulation of the emerging virtual asset sector in West Africa. It prioritises orderly development over rapid expansion, ensuring any future promotions align with established rules. Individuals and businesses interested in virtual assets should monitor official BoG and SEC channels for updates on licensing and compliant activities.
