BoG to introduce rules governing stablecoin operations in Ghana – Dr. Asiama

The Bank of Ghana (BoG) is developing a Stablecoin Directive to establish clear requirements for stablecoin activities in the country as part of efforts to regulate the growing virtual asset sector.

Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, disclosed this on Monday, November 2, 2026, during the Africa Virtual Assets Summit (AVAS) at the Kempinski Hotel Gold Coast City in Accra.

He said the directive would provide clarity on permitted stablecoin activities while ensuring that innovation in digital finance does not undermine the stability of Ghana’s financial system.

“Stablecoins are a priority within this framework. The Bank of Ghana is developing a Stablecoin Directive to set clear requirements for stablecoin activities in Ghana, while providing clarity for any permitted activities,” he said.

Dr. Asiama explained that the Bank was working closely with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre to develop the necessary regulatory instruments and supervisory arrangements.

He also identified the inauguration of the Virtual Assets Coordinating Committee as an important step towards strengthening cooperation among public institutions responsible for overseeing the sector.

The Governor stressed that the regulation of virtual assets must prioritise consumer and investor protection, the safeguarding of customer assets and financial integrity.

“The real test will be translating the law into a credible and enforceable framework that gives responsible firms and investors the certainty they need to build and invest with confidence, and makes Ghana a trusted home for responsible innovation,” he stated.

Ghana’s regulatory efforts follow the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154), which established a dedicated legal framework for virtual assets under the coordinated regulatory oversight of the Bank of Ghana and the SEC.

Dr. Asiama said the legislation marked a significant milestone but emphasised that effective implementation would determine whether Ghana could build a trusted and sustainable virtual asset ecosystem.

His remarks come as the use of digital assets, including stablecoins, gains attention across financial markets, particularly for payments, settlements and cross-border transactions.

Stablecoins are digital assets designed to maintain a relatively stable value, often by being linked to traditional currencies such as the US dollar.

While they can offer faster payment and settlement options, their growing adoption also presents regulatory and monetary policy considerations for central banks.

The Bank of Ghana’s proposed directive is expected to provide greater clarity on how permitted stablecoin activities will operate within Ghana’s financial system.