Ghana will not become ‘weak link’ in global finance, SEC warns at Virtual Assets Symposium
Ghana’s securities regulator has declared that the country will not allow virtual asset innovation to compromise financial integrity, as policymakers and industry leaders gathered in Accra for the inaugural Ghana Virtual Assets and Financial Services Symposium.
Speaking at the event organised by the Ghana Chapter of the Chamber of Digital Assets Ghana and Blockchain Innovation under the theme “From Trust to Transparency: Building Ghana's Regulated Digital Asset Future", the Deputy Director-General in charge of Finance at the Securities and Exchange Commission, Mr Mensah Thompson, delivered a firm message on oversight and accountability.
He told participants that while macroeconomic conditions are improving, with inflation declining and financial stability strengthening, regulators are focused on ensuring that the rapid growth of virtual asset activities does not introduce systemic risks.
“Virtual assets are no longer theoretical concepts. They are active. They are evolving. And they are influencing our financial ecosystem,” he said.
Mr Thompson described the passage of the Virtual Asset Service Providers Act, 2025 as a landmark development, providing for the first time a clear legal foundation for regulating virtual asset service providers in Ghana.
“Regulatory clarity is not an obstacle to growth. It is the foundation of sustainable growth,” he stated.
However, he cautioned that the Act itself is only the starting point. “The law provides authority. But it is the frameworks, guidelines, supervisory tools, and enforcement mechanisms that make regulation real and effective.”
He disclosed that the Commission is finalising the Regulatory Sandbox framework alongside directives and other instruments to operationalise the law. These, he said, will define licensing requirements, governance standards, operational controls, reporting obligations and supervisory oversight.
A central pillar of the new framework will be financial integrity and compliance with global anti-money laundering and counter-terrorism financing standards. Mr Thompson revealed that the SEC is working closely with the Bank of Ghana and the Financial Intelligence Centre to ensure effective customer due diligence, transaction monitoring and reporting.
He highlighted the implementation of the Financial Action Task Force Travel Rule as critical to safeguarding Ghana’s position in the international financial system.
“Ghana will not become a weak link in the global financial architecture,” he declared. “Innovation must not create avenues for illicit finance. It must operate within a framework of transparency and accountability.”
The SEC is also collaborating with the Bank of Ghana on a National Virtual Asset Literacy Programme, aimed at building capacity across multiple levels, from retail investors to financial institutions and regulators.
“An informed market is a resilient market. An informed investor is a protected investor,” Mr Thompson said.
He stressed that the regulator’s role is not to stifle innovation but to ensure that it develops responsibly within a structured and well-supervised environment.
“The future of finance is evolving — and Ghana is not standing still,” he concluded, adding that through collaboration between regulators and industry, the country can build a virtual asset ecosystem that commands both domestic confidence and international respect.