The Bank of Ghana has proposed a new policy to regulate virtual assets, aiming to encourage responsible innovation and ensure fair competition among financial institutions. The central bank highlighted the lack of a specific legal framework for virtual asset service providers (VASPs) and stressed the importance of regulation in line with updated Financial Action Task Force (FATF) standards. Released on November 5, the policy document advocates for a risk-based regulatory approach, calling for proportionate actions and inter-agency collaboration. Additionally, the government is drafting a bill to license VASPs, with goals of increasing state revenue and enhancing financial literacy regarding digital assets.