Financial regulators have launched a swift clampdown on the public promotion of cryptocurrencies and stablecoins, directing all Virtual Asset Service Providers (VASPs) to immediately cease mass advertising activities across the country. In a joint notice issued on February 20, 2026, the Bank of Ghana and the Securities and Exchange Commission gave operators a strict 48-hour deadline to remove billboards, outdoor signage, and other public promotional materials related to virtual asset products.
Thank you for reading this post, don't forget to subscribe!The regulators said the directive responds to the growing wave of high-visibility campaigns, particularly in Accra and other major urban centres, where crypto-related advertisements have become increasingly prominent.
According to the joint statement, no entity is permitted to conduct mass-market promotions for virtual assets without explicit approval from both institutions. The order applies to all operators, including those currently participating in the regulatory sandbox programme — a supervised testing environment for financial innovations.
The regulators stressed that sandbox participation does not grant automatic permission to advertise to the general public.
At the centre of the enforcement action is the Virtual Asset Service Providers Act, 2025, which formally classifies virtual asset advocacy as a regulated activity. Under the law, any entity promoting digital asset products must first obtain registration from both the central bank and the securities regulator.
Although the Act provides a transition window for firms to regularise their operations, authorities clarified that the temporary compliance period does not cover marketing or promotional campaigns. In effect, all public advertising must stop until detailed regulatory guidelines are issued.
Operators who fail to comply within the stipulated timeframe risk facing severe penalties.
The directive signals a firmer regulatory posture as authorities seek to protect consumers from potential exposure to high-risk or unlicensed digital products. By suspending widespread promotional activities, regulators aim to contain speculative hype while they complete the framework governing Ghana’s expanding digital asset market.
The move forms part of broader efforts to strengthen oversight in a rapidly evolving fintech environment where cryptocurrencies and stablecoins have seen increasing adoption.
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