BoG and SEC order crypto firms to pull down billboards within 48 hours
Ghana’s financial regulators have issued a stern warning to virtual asset operators, directing them to immediately halt public advertising of digital asset and stablecoin products and remove existing billboards within 48 hours or face sanctions.
In a joint press release dated February 20, 2026, the Bank of Ghana and the Securities and Exchange Commission said they had observed with concern the “increasing advertisement of virtual asset and stablecoin products, including the use of large billboards in Accra and other parts of the country by certain Virtual Asset Service Providers (VASPs).”
The two regulators stressed that all Virtual Asset Service Providers, including those currently operating within regulatory sandbox arrangements, are not permitted to embark on mass marketing or public promotional campaigns without explicit authorisation.
“All VASPs, including those operating within the BoG and SEC sandbox, are hereby directed to refrain from mass marketing or public promotional campaigns on virtual assets, unless expressly authorised by the BoG and SEC,” the statement said.
The regulators further clarified that advocacy related to virtual assets is now a regulated activity under the Virtual Asset Service Providers Act, 2025 (Act 1154), and requires formal registration with both institutions.
“Furthermore, virtual asset advocacy is a regulated activity under the Virtual Asset Service Providers Act, 2025 (Act 1154), and requires registration with the BoG and SEC. Detailed rules on advocacy and advertisements will be issued in due course,” the statement added.
The Act provides transitional arrangements for existing operators, allowing them to apply for licensing or registration once the regulatory regime becomes fully operational. However, until such approvals are granted, public promotional activities are effectively suspended.
In a direct warning to operators currently advertising their services, the regulators stated: “This notice is to caution VASPs who have mounted billboards and other forms of public advertisement to take them down within 48 hours of the date of this notice. Failure to comply will result in severe sanctions against the offending service providers.”
The joint directive signals a tightening of oversight in Ghana’s fast-evolving digital asset space, where interest in cryptocurrencies and stablecoins has grown rapidly in recent years. By moving to restrict public promotions, the Bank of Ghana and the SEC appear intent on preventing consumer exposure to potentially unregulated or unauthorised products while the new legal framework is being implemented.
The regulators have advised stakeholders and the public to direct further enquiries to the Head of the Virtual Asset Department at the Bank of Ghana or the Chair of the Virtual Asset Committee at the Securities and Exchange Commission.