Ghana’s financial regulators have ordered all Virtual Asset Service Providers (VASPs) to immediately stop unauthorised mass advertising and promotional campaigns linked to virtual assets and stablecoins.
In a joint statement released on February 20, 2026, the Bank of Ghana and the Securities and Exchange Commission said they were concerned about the growing visibility of crypto-related promotions across the country — including large billboards mounted in Accra and other major cities.
Advertising Now Requires Explicit Approval
The regulators made it clear that no VASP — including firms currently operating within regulatory sandboxes supervised by the two institutions — is permitted to engage in mass marketing or public promotional campaigns without express authorisation.
Under the newly enacted Virtual Asset Service Providers Act, 2025, advocacy and advertising of virtual asset products are now regulated activities. This means companies must be properly registered and licensed by both the central bank and the SEC before promoting their services to the public.
The two institutions noted that comprehensive guidelines detailing advertising standards and advocacy rules will be issued in due course to provide clarity for operators.
48-Hour Deadline to Remove Billboards
As part of the directive, any VASPs that have already mounted billboards or launched public advertising campaigns have been given 48 hours to take them down.
The regulators warned that non-compliance would attract “severe sanctions,” signaling a firm enforcement stance as Ghana formalizes its crypto regulatory regime.
Transitional Arrangements in Place
The Act provides transitional provisions to allow existing VASPs to apply for licensing or registration once the full regulatory framework becomes operational. This measure is intended to give legitimate operators an opportunity to regularize their status while ensuring investor protection and market integrity.
Protecting Investors and Market Stability
The move comes amid increasing public interest in digital assets and stablecoins, which regulators globally have sought to monitor more closely due to risks related to fraud, market volatility, and consumer protection.
By tightening oversight of promotional activities, Ghana’s regulators appear focused on preventing misleading claims, safeguarding retail investors, and maintaining confidence in the country’s evolving financial system.
The latest directive underscores the authorities’ broader commitment to balancing innovation in financial technology with strong regulatory supervision.
Source: Africa Publicity
