Securities and Exchange Commission Ghana admits 11 virtual asset service providers to 12 month regulatory sandbox under new VASP Act

The Securities and Exchange Commission Ghana has finalized its regulatory sandbox framework for Virtual Asset Service Providers under the Virtual Asset Service Providers Act, 2025 and admitted 11 firms to a 12-month pilot under the Commission’s oversight. The sandbox is intended to let participants test products and services in a controlled environment while the regulator operationalizes the new virtual asset regime and validates draft guidelines for activity-based licensing categories. The admitted participants are AFRICOIN, BLU PENGUIN, GOLDBOD, HANYPAY, HYRO EXCHANGE GH LTD, HSB GLOBAL, KOINKOIN, WHITEBITS, VAULTA, XCHAIN and BSYSTEM LTD. After the first six months, firms whose products and services are market ready and have met regulatory requirements may transition to the relevant activity-based licence or registration, while firms that are not yet market ready may continue in the sandbox for the remaining six months. The pilot is also intended to support investor protection, market integrity, and compliance with anti-money laundering and counter-terrorism financing standards. Lessons from the sandbox and data gathered during the pilot will be used to develop guidelines for the different activity-based licensing categories under the Act. The Commission said it will publish those guidelines and then open the licensing and registration process for all Virtual Asset Service Providers seeking authorization under the Virtual Asset Service Providers Act, 2025.