The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have directed all Virtual Asset Service Providers (VASPs) to immediately stop unauthorised advertising and public promotion of virtual asset and stablecoin products, warning that strict sanctions will be imposed on any entity that fails to comply.
In a joint public notice issued on February 20, 2026, the two regulators raised concerns over the growing wave of aggressive marketing campaigns by some VASPs. According to the notice, several operators have mounted large billboards and launched public promotions across Accra and other parts of the country without first securing the required regulatory approval.
The BoG and SEC emphasised that virtual asset advocacy and advertising are regulated activities under the Virtual Asset Service Providers Act, 2025 (Act 1154). As such, any entity seeking to promote or market virtual asset products must first register with and obtain authorisation from both regulators.
“All VASPs, including those operating within the regulatory sandbox of the BoG and SEC, are directed to refrain from mass marketing or public promotional campaigns on virtual assets unless expressly authorised,” the statement said.
The regulators further noted that detailed guidelines governing virtual asset advocacy and advertising will be issued in due course. They also highlighted that the Act provides transitional arrangements, allowing existing VASPs to apply for licensing or registration once the regulatory framework becomes fully operational.
As part of immediate enforcement measures, the BoG and SEC have ordered all VASPs currently running billboard or other public advertising campaigns to remove them within 48 hours of the notice.
Failure to comply, the regulators warned, will attract severe sanctions.
