Crypto is not banned in Ghana, and it is not money. Since the end of 2025 it has a law of its own - the Virtual Asset Service Providers Act, 2025 (Act 1154) - which says the businesses that trade, hold or transfer crypto for the public must register with, and be licensed by, the regulators. When this was written, in November 2026, the Bank of Ghana listed no licensed operator.

What the law does

  • It regulates businesses, not you. Exchanges, wallet providers, custodians, brokers, token issuers and crypto lenders must register or be licensed. The Act does not make it an offence for a person to own crypto.
  • Two regulators share the work. The Bank of Ghana runs the licensing through a new virtual assets department, and the Securities and Exchange Commission covers exchanges and investment products. The Financial Intelligence Centre covers money laundering.
  • The cedi stays the only legal tender. No shop has to take crypto, and a contract priced in crypto has no special protection.
  • It is not an endorsement. The Bank of Ghana’s own lead on virtual assets said plainly, when the Act was passed, that it does not mean crypto trading has been legalised; it gives the regulators the framework to supervise it.

What has happened since

  • Registration came first. The Bank of Ghana told every crypto business operating in Ghana to register with it, and has said registration is not a licence.
  • Advertising was stopped in February 2026: the Bank and the SEC directed crypto businesses to stop mass-marketing to the public until they are authorised.
  • Licensing was due to open by the end of the third quarter of 2026: the Bank’s virtual assets page promised its application process by then. The Bank has said approved operators will be listed on its own and the SEC’s websites. Check there before trusting any platform that says it is “licensed in Ghana”.

Binance and the other exchanges

The big international exchanges, Binance included, are used widely in Ghana, mostly for P2P trades: you pay a stranger cedis by MoMo or bank transfer, and the exchange releases their crypto to you. Under the new law an exchange serving the Ghanaian public needs a Ghanaian licence, and the Bank listed none when this was written. That leaves you with no Ghanaian regulator to complain to if something goes wrong.

If you use one anyway:

  • P2P is where people lose money. The common frauds are a buyer who sends a fake payment alert, a payment that is later reversed as fraud, and money that turns out to be stolen - which can get your MoMo or bank account frozen while it is investigated. Release crypto only when the money is in your account, not on a screenshot.
  • Never trade outside the platform, on WhatsApp or Telegram, with someone who found you there.
  • “Investment” schemes promising a fixed monthly return are a common crypto fraud. A real investment cannot promise one.
  • Keep records of what you bought, sold and for how much. The Ghana Revenue Authority will tax crypto income and gains; the rates had not been set when the Act was passed.

Sending money with crypto

Some people use crypto to move money into or out of Ghana. It is not a way round the rules on foreign exchange or on declaring money at the border, and a transfer through an unlicensed platform is one the Bank of Ghana cannot help you recover.

— Sending money to Ghana — Sending money out of Ghana — Online fraud, and how to avoid it