Ghana’s CDABI Urges SEC on Digital Asset Regulation

The move signals a pivotal moment for the country’s burgeoning digital economy, which has operated in a gray area for years but recently gained legal footing with the passage of the Virtual Asset Service Providers Act.

In a high-level meeting in Accra, a CDABI delegation led by Caleb Kwaku Afaglo met with SEC Deputy Director-General Mensah Thompson and other senior officials. According to a statement from the Chamber, the discussion was a “constructive and forward-looking engagement” centered on Ghana’s evolving regulatory landscape for digital assets.

CDABI positioned itself as a “structured industry interface,” ready to coordinate dialogue between the market and regulators. The Chamber’s goal is to foster policy clarity and improve supervisory efficiency as the new rules are implemented.

The core objective of the engagement is to develop a digital asset market that is transparent, compliant, and supportive of innovation. This follows the passage of legislation that officially legalized and established a framework for regulating cryptocurrencies and Virtual Asset Service Providers (VASPs). The law aims to protect consumers, provide certainty for investors, and give regulators the tools needed for effective oversight.

A key part of CDABI’s effort includes a proposed national symposium on virtual assets and an Anti-Money Laundering (AML) training program developed with the Ghana Institute of Management and Public Administration (GIMPA) to build professional capacity within the sector.

This proactive engagement between industry and regulators is a critical step in maturing Ghana’s digital asset market. For years, the Securities and Exchange Commission and the Bank of Ghana had issued warnings about the risks of unregulated crypto. However, with significant adoption—reports indicate nearly 3 million Ghanaians have used crypto—the government has shifted toward formal regulation.

By establishing clear rules and fostering collaboration, Ghana aims to attract investment, enhance consumer protection, and integrate digital assets into its broader financial system responsibly. The new legal framework, supported by industry initiatives from groups like CDABI, positions the country to become a more structured and credible player in Africa’s rapidly growing digital economy.

The meeting between CDABI and the SEC marks the beginning of a crucial dialogue. While specific regulatory details are still being developed, this collaboration is expected to shape the practical implementation of Ghana’s new digital asset laws. The upcoming national symposium will be a key event for stakeholders to align on compliance standards and responsible innovation.