The Securities and Exchange Commission Ghana (SEC) has admitted a number of virtual asset firms into a regulatory sandbox to pilot their products as the country prepares to implement a comprehensive regulatory framework for the sector.
The move follows the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154), which establishes the legal basis for regulating virtual asset-related activities in Ghana.
According to the Commission, the sandbox programme will run for 12 months and will allow selected Virtual Asset Service Providers to test their innovations within a controlled environment under the supervision of the regulator.
Companies such as HanyPay and Africoin have already been admitted into the programme to pilot their products and services while complying with regulatory requirements aimed at protecting investors and ensuring market integrity.
The SEC explained that after the first six months of testing, firms whose products are considered market-ready and compliant with regulatory standards may transition into the appropriate licensing or registration regime.
However, companies whose innovations require further refinement may continue testing within the sandbox for the remaining six months, subject to the Commission’s regulatory assessment.
The initiative is designed to balance innovation with oversight as Ghana’s virtual asset ecosystem continues to grow.
According to the SEC, data and lessons gathered from the pilot programme will help shape final regulatory guidelines for the sector, including the various activity-based licensing categories outlined in the Act.
Once the guidelines are finalised and published, the Commission plans to open the regulatory space for all eligible virtual asset service providers to apply for licensing or registration.
The SEC noted that the sandbox initiative forms part of broader efforts to ensure transparency, investor protection and compliance with anti-money laundering and counter-terrorism financing standards within Ghana’s evolving digital asset market.
