BoG, SEC and FIC brief crypto firms on tough new anti-money laundering rules

The Bank of Ghana has begun formally onboarding the virtual asset industry into the country’s anti-money laundering regime with a sensitisation workshop for Virtual Asset Service Providers (VASPs).

The session, organised jointly with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC), forms part of the rollout of Ghana’s new Virtual Asset Service Provider Act.

More than 90 operators and stakeholders from the virtual asset ecosystem attended the engagement, which focused on tightening controls against money laundering and terrorist financing in the burgeoning crypto and digital asset space.

According to a statement from the central bank, officials walked participants through the key pillars of Ghana’s AML/CFT architecture, including:

The Anti-Money Laundering Act, 2020 (Act 1044)

The 2022 AML/CFT Guidelines

The newly passed VASP Act

The regulators underscored that VASPs are now classified as “Accountable Institutions” under the 2022 Guidelines, with full obligations around customer due diligence, reporting of suspicious transactions, record-keeping and internal compliance systems.

Presenters also outlined core provisions of the VASP Act, signalling what firms should expect in 2026, including:

Licensing and registration requirements for all virtual asset service providers

Transitional arrangements for existing operators currently in the market

Sanctions for any entity that continues to offer virtual asset services without approval once the transition window closes

The Bank of Ghana said the joint exercise with SEC and the FIC is designed to anchor market stability, enhance oversight of digital asset activities and provide stronger safeguards for investors.

The three institutions reiterated that operationalising the VASP Act will be one of the flagship priorities of Ghana’s financial regulatory agenda in 2026.