Accra: The Securities and Exchange Commission (SEC) is in the process of finalising its regulatory sandbox framework designed for Virtual Asset Service Providers. This initiative aims to create a controlled environment under the SEC's regulatory oversight, allowing for the testing of innovative virtual asset products and services.
According to Ghana News Agency, the SEC announced in a statement that upon the completion of the framework, it will begin an application process to license various categories of virtual asset services under the Act. The services to be licensed include Virtual Asset Exchanges and Trading Platforms, Virtual Asset Issuance, Virtual Asset Tokenisation, and Virtual Asset Exchange Traded Funds. Additionally, the framework will cover Virtual Asset Managers, Virtual Asset Brokerage and Investment Advisory, and Virtual Asset Mining and Validation (On Securities).
The statement further explained that the sandbox platform is intended to support responsible innovation while enhancing investor protection, ensuring market integrity, and maintaining compliance with anti-money laundering and counter-terrorism financing standards. Insights gained from the pilot phase will play a crucial role in shaping the SEC's future policy development and licensing frameworks for virtual assets.
Market operators are encouraged to reach out to the SEC for more information via email at [email protected], by phone at +233 (0)302 768 970-2, through the toll-free line 0800 100 065, or by visiting www.sec.gov.gh. The SEC is empowered under the Securities Industries Act, 2016 (Act 929) to regulate Ghana's capital market and, under the Virtual Asset Service Providers Act, 2025 (Act 1154), acts as a co-regulator of virtual asset services in the country, providing dedicated services as stipulated by the Act.