The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have directed all Virtual Asset Service Providers (VASPs) to immediately halt unauthorised mass advertising and promotional campaigns related to virtual asset and stablecoin products.
In a joint press release issued on Friday, February 20, 2026, the two regulators said they had “noted with concern the increasing advertisement of virtual asset and stablecoin products, including the use of large billboards in Accra and other parts of the country by certain Virtual Asset Service Providers (VASPs).”
The BoG and SEC stated that “all VASPs, including those operating within the BoG and SEC sandbox, are hereby directed to refrain from mass marketing or public promotional campaigns on virtual assets, unless expressly authorised by the BoG and SEC.”
According to the statement, virtual asset advocacy is now a regulated activity under the Virtual Asset Service Providers Act, 2025 (Act 1154), and requires registration with both regulators. The authorities noted that “detailed rules on advocacy and advertisements will be issued in due course.”
The Act also provides transitional arrangements for existing VASPs to apply for licensing or registration once the regulatory regime becomes operational.
The regulators further cautioned that service providers who have mounted billboards and other forms of public advertisement must remove them within 48 hours of the notice.
“Failure to comply will result in severe sanctions against the offending service providers,” the statement warned.
