FIC Joins Ghana's Virtual Asset Coordinating Committee
The Financial Intelligence Centre (FIC) has joined Ghana’s newly inaugurated Virtual Asset Coordinating Committee (VACC), reinforcing the country’s commitment to a secure, transparent and well-regulated virtual asset sector.
Established under section 5 of the Virtual Asset Service Providers Act, 2025 (Act 1154), the Committee provides a formal platform for coordinated implementation of the Act. Its seven representatives are drawn from the Bank of Ghana, the Securities and Exchange Commission, the Ministry of Finance, the Cyber Security Authority and the Financial Intelligence Centre.
The Committee will align policy and operational approaches, facilitate lawful information sharing, support coordinated investigations and strengthen cooperation with foreign regulators and international standard-setting bodies. Its work will help close regulatory gaps, protect consumers and investors, preserve the integrity of Ghana’s financial system and enable responsible innovation within a credible regulatory framework.
FIC’s Role in the National Framework
The FIC will contribute its statutory expertise in preventing and detecting money laundering, terrorism financing and other illicit activity involving virtual assets. Its participation will support risk-informed supervision, coordinated action and the exchange of financial intelligence in accordance with applicable law and confidentiality requirements.
Benjamin Ofori, Esq., Director Legal at the FIC, has been appointed Secretary to the Committee and will support the orderly coordination of its work. The chairmanship rotates between the Bank of Ghana and the Securities and Exchange Commission.
Advisory to Sandbox Participants and Partners
Entities admitted to a regulatory sandbox, together with their related partners, are required to obtain clearance from the relevant regulatory authority before issuing any public communication or marketing material concerning their participation, products or services.
Issued by:
The Public Relations & Protocol Unit
Financial Intelligence Centre
Frequently Asked Questions
What is the Virtual Asset Coordinating Committee?
The Virtual Asset Coordinating Committee is a seven member, multi agency body established under section 5 of the Virtual Asset Service Providers Act, 2025 (Act 1154). It coordinates the implementation of the Act and supports cooperation among the relevant regulatory authorities.
Why was the Committee established?
Virtual assets affect several regulatory areas, including financial stability, securities regulation, cybersecurity, financial crime prevention and public policy. The Committee was established to coordinate the work of the responsible institutions, address regulatory gaps and support a secure, transparent and well regulated virtual asset ecosystem in Ghana.
Which institutions are represented on the Committee?
The Committee comprises two representatives each from the Bank of Ghana and the Securities and Exchange Commission, and one representative each from the Ministry of Finance, the Cyber Security Authority and the Financial Intelligence Centre. The chairmanship rotates between the Bank of Ghana and the Securities and Exchange Commission.
What is the role of the Financial Intelligence Centre?
The Financial Intelligence Centre supports the Committee’s work on preventing and detecting money laundering, terrorism financing and other illicit financial activity involving virtual assets. The FIC also provides the secretariat for the Committee through Benjamin Ofori, Esq., Director Legal, who serves as Secretary.
What are the Committee’s key priorities?
The Committee will focus on coordinating supervisory approaches for Virtual Asset Service Providers, strengthening information sharing and joint monitoring among member institutions, supporting responsible innovation, promoting consumer and investor protection, and improving public understanding of the risks and responsible use of virtual assets.