The Director-General of Ghana’s Securities and Exchange Commission (SEC), Dr. James Klutse Avedzi, has described the passage of the Virtual Asset Service Providers (VASP) Act, 2025 (Act 1154) as a defining moment that will fundamentally reshape Ghana’s financial ecosystem, from core banking to traditional securities markets.
Addressing stakeholders at the launch of the National Virtual Asset Literacy Initiative (NaVALI) at The Bank Square in Accra, Dr. Avedzi said the new law marks “a turning point for our entire financial ecosystem,” adding that it will change “how the entire financial game is going to be played from now.”
He noted that the law is the result of months of intensive collaboration between the Bank of Ghana and the Securities and Exchange Commission, culminating in a legal framework that formally brings virtual assets into Ghana’s regulated financial space.
“The Virtual Asset Service Providers Act, 2025, Act 1154 is now a law,” Dr. Avedzi said, holding up a copy of the Act, as he underscored its significance for market operators, investors, and regulators alike.
Dr. Avedzi said the SEC, as co-regulator under the Act, is committed to working closely with the Bank of Ghana to guide industry players through what he described as “this new territory,” ensuring that innovation does not outpace investor protection and market integrity.
“The Securities and Exchange Commission pledges its commitment to working together with the Bank of Ghana in guiding the industry and market operators,” he stated.
He explained that while virtual assets and blockchain technologies offer major opportunities for financial inclusion, efficiency, and economic growth, they also carry serious risks relating to investor protection, market integrity, and financial stability.
“These innovations present both significant opportunities as well as significant risks,” Dr. Avedzi warned, stressing that Ghana must adopt a “well-sensitized national approach” to virtual asset adoption.
According to the SEC Director-General, the launch of NaVALI represents a deliberate effort by regulators to ensure that the public is not left behind as Ghana enters this new phase of financial development.
“Today marks a significant step by the Bank of Ghana and the Securities and Exchange Commission towards carrying the public along on this new journey,” he said.
He highlighted the National Virtual Asset Education Manual, unveiled as part of NaVALI, as a key tool for public education. The manual, he explained, will provide a structured foundation for learning by demystifying virtual assets, clarifying key concepts, highlighting emerging use cases, and explaining the legal and regulatory architecture governing the sector.
“It will also highlight the key risk considerations that must guide responsible adoption and usage,” he added.
Dr. Avedzi emphasised that NaVALI reflects a broader national commitment to informed participation and financial literacy, while supporting innovation within what he described as “clear, predictable, and proportionate regulatory frameworks.”
He said the initiative also encourages collaboration among regulators, industry players, academia, and consumers, a partnership he described as essential for the sustainable integration of virtual assets into Ghana’s financial system.
Commending the Bank of Ghana for what he called its foresight, Dr. Avedzi expressed appreciation to the Governor for his leadership and support, as well as to the Minister of Finance and the Parliamentary Committee on Finance for their bipartisan backing of the virtual asset law.
“We have an unnegotiable responsibility to ensure effective coordination, harmony, and integration of virtual assets in Ghana’s financial ecosystem,” he said, reiterating the SEC’s commitment to working with the Central Bank as co-regulators in operationalising the law.
The NaVALI initiative, he concluded, represents a critical step toward ensuring that Ghana’s digital finance future is built on knowledge, responsibility, and trust, rather than speculation and uninformed risk.
