Dr. Johnson Asiama
The Bank of Ghana (BoG), has stated that Virtual Asset Service Providers (VASPs) without the requisite licence after the transitional period will be sanctioned in accordance with the law.
This was contained in a statement issued by the Bank of Ghana on Wednesday, December 31, 2025 following a joint sensitisation workshop on Anti-money laundering and Countering the Financing of Terrorism AML/CFT for Virtual Asset Providers (VASPs) in Accra.
According to the Central Bank, the workshop which was organised in collaboration with the Securities and Exchange Commission (SEC), and the Financial Intelligence Centre (FIC) also marks an important milestone toward the effective implementation of Ghana’s recently passed Virtual Asset Service Provider (VASP) Act.
It stated, “Virtual asset services without the requisite licence or registration after the transitional period will attract stringent sanctions in accordance with the law”.
The Bank of Ghana also mentioned that the workshop, which attracted over 90 participants from the virtual asset-ecosystem, was also aimed at strengthening AML/CFT compliance within the sector.
It featured discussions on Ghana’s AML/CFT legal and regulatory frameworks,
including the AML Act, 2020 (Act 1044), the AML/CFT Guidelines (2022), and
the VASP Act.
“Emphasis was placed on the designation of VASPs as Accountable Institutions under the AML/CFT Guidelines (2022) and the attendant compliance obligations,” parts of the statement read.
It said key provisions of the VASP Act were also highlighted, including anticipated licensing and registration requirements, as well as the transitional arrangements for existing operators.
“This initiative reflects a coordinated effort by BoG, SEC and FIC to support market stability, and safeguard investors”. it added.
The authorities further reaffirmed that implementing the VASP Act will be a key focus for Ghana’s financial regulation
this year.
By Ebenezer K. Amponsah
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