Ghana is urging African countries to harmonise crypto regulations as digital asset businesses expand across national borders and regulatory differences create challenges for the industry.
Officials from Ghana’s Securities and Exchange Commission (SEC) and the Bank of Ghana have called for closer cooperation among African regulators. They believe common standards for licensing, supervision and market conduct could make it easier to regulate cryptocurrency businesses across the continent.
The call comes as Ghana strengthens its own virtual asset framework and positions itself as a participant in shaping Africa’s digital asset policy.
At the centre of the discussion is a simple concern: cryptocurrency businesses operate across borders, but the rules governing them often differ from one country to another.
Why Ghana Wants Common Crypto Regulations
Different regulatory requirements can make it difficult for cryptocurrency businesses to operate across African markets.
A company licensed in one country may need to meet different registration, capital, reporting and compliance requirements before entering another market. This increases operating costs and can discourage investment.
Regulatory differences can also create gaps in supervision. Businesses may take advantage of jurisdictions with weaker oversight, making it harder for regulators to address fraud, money laundering and other financial risks.
Emmanuel Mensah Thompson, Deputy Director-General of Finance at Ghana’s SEC, said the commission wanted the Africa Virtual Assets Summit to help coordinate regulators towards greater continental alignment.
At the launch of the summit in Accra, he identified licensing, supervision and market rules as important areas for cooperation.
Elhanan Owureku Asare, Head of the FinTech and Innovation Department at the Bank of Ghana, also called for harmonised regulatory frameworks. He argued that African countries needed to reduce regulatory differences that could limit the development of a more connected digital asset market.
Africa Virtual Assets Summit Focuses on Regulatory Cooperation
The push for common standards gained attention ahead of the Africa Virtual Assets Summit (AVAS) 2026, held in Accra on November 2 and 3.
The summit brought together regulators, policymakers, financial institutions and digital asset industry leaders to discuss the future of virtual assets across Africa.
Its theme, “Tokenisation: Africa’s Pathway Towards Building a Trusted, Inclusive and Innovative Digital Asset Ecosystem,” focused on how digital assets could support investment, financial inclusion and economic development.
One of the major proposals was the Accra Declaration, a set of shared principles and recommendations intended to guide the responsible development of virtual assets and tokenisation across African countries.
The proposed declaration could provide a basis for stronger cooperation between regulators and more consistent approaches to digital asset supervision.
However, harmonisation does not necessarily mean every African country must adopt identical laws. Instead, regulators could agree on common principles while retaining the flexibility to address their individual financial systems and market conditions.
Nigeria and Other African Markets Face Similar Challenges
The need for regulatory cooperation is becoming more important as cryptocurrency adoption grows across Africa.
Nigeria, South Africa, Kenya and Ghana have all taken steps to establish rules for digital asset businesses. However, their regulatory frameworks differ in structure, implementation and supervisory responsibilities.
These differences can complicate cross-border operations for exchanges, wallet providers, stablecoin businesses and other virtual asset service providers.
Nigeria, for example, regulates digital asset activities through the Securities and Exchange Commission under its evolving digital asset framework. Kenya has introduced its Virtual Asset Service Providers Act, while Ghana has established a legal framework under its own VASP legislation.
For businesses seeking to operate across these markets, differences in licensing and compliance requirements can create additional costs.
Greater cooperation could help regulators share information, coordinate investigations and establish more consistent standards for consumer protection and financial crime prevention.
Ghana Builds Its Own Virtual Asset Regulatory Framework
Ghana’s call for continental cooperation comes as the country implements its Virtual Asset Service Providers Act, 2025 (Act 1154).
The law establishes a legal basis for registering, licensing and supervising virtual asset service providers.
The Bank of Ghana and the Securities and Exchange Commission share regulatory responsibilities under the framework. Their oversight covers different activities within the digital asset market, including stablecoin services, virtual asset exchanges and other related businesses.
Ghana has also established a Virtual Assets Coordinating Committee to improve cooperation among domestic regulatory institutions.
The committee brings together representatives from key public institutions, including the Bank of Ghana, SEC, Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre.
The International Monetary Fund has noted that Ghana’s framework is broadly aligned with international regulatory standards but still requires further guidelines in areas such as trading, brokerage services and stablecoin arrangements.
This highlights an important part of the harmonisation discussion: African countries must strengthen their domestic regulatory systems while developing ways to cooperate across borders.
You may also like: Kenya’s Crypto Transactions Hit Record KSh740 Billion as Stablecoin Use Grows
What Harmonised Crypto Regulations Could Mean for Africa
Common regulatory principles could make Africa’s digital asset market more attractive to businesses and investors.
For cryptocurrency companies, greater consistency could reduce the complexity of entering new markets. It could also make compliance requirements more predictable.
Regulators could benefit from improved information sharing and coordinated responses to suspicious transactions and cross-border financial crime.
Consumers and investors could also gain from stronger and more consistent protection standards.
However, achieving these benefits will require more than agreeing on broad principles. African regulators will need to coordinate licensing processes, supervisory practices, reporting requirements and enforcement mechanisms.
Ghana’s push for harmonised crypto regulations therefore raises an important question for the continent: can African countries develop a more connected digital asset market without weakening their individual regulatory safeguards?
The proposed Accra Declaration offers a starting point for that conversation. Its long-term impact will depend on whether countries turn the recommendations into practical regulatory cooperation.
