The Bank of Ghana has introduced the National Virtual Assets Literacy Initiative (NAVALI) following the enactment of the Virtual Asset Service Providers (VASP) Act (Act 1154). This initiative aims to educate the public on cryptocurrency risks and help identify licensed service providers, addressing the legal ambiguity that previously surrounded digital assets in Ghana. The VASP Act empowers the Bank of Ghana and the Securities and Exchange Commission to regulate the sector, ensuring consumer protection and market stability. With nearly 3 million Ghanaians active in the digital asset market, NAVALI seeks to prevent fraud and market volatility by enhancing public understanding of virtual assets. The initiative coincides with Ghana's progress on its central bank digital currency, the e-cedi, and is expected to boost the country's fintech ecosystem by attracting international and local blockchain-driven solutions.
Ghana Launches Crypto Literacy Initiative After VASP Act Enactment
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