Ghana’s SEC admits 11 firms into a 12-month VASP Act 2025 crypto sandbox, setting the stage for full digital asset licensing across West Africa.
Ghana’s Securities and Exchange Commission just moved. Eleven virtual asset service providers got access to a regulatory sandbox on March 10, 2026. The pilot runs for 12 months under the Virtual Asset Service Providers Act, 2025 (Act 1154).
The firms test their products in a controlled environment. Regulators watch risk and compliance in real time. As CoinDesk posted on X, the SEC confirmed companies will operate under direct oversight throughout the period.
Must Read: Ghana Approves Landmark Crypto Law to Regulate Digital Asset Markets
Not all 11 firms do the same thing. Africoin, Blu Penguin, Vaulta, XChain, and Goldbod focus on asset tokenization. Hyro Exchange GH Ltd, HanyPay, and WhiteBits operate as crypto exchanges. HSB Global, KoinKoin, and Bsystem Ltd round out the cohort.
The Six-Month Split Nobody Is Talking About
The sandbox does not run as one flat twelve months. There is a split baked in. Firms whose products are market-ready within the first six months can move directly to a full activity-based license. The ones still refining get the back half.
That distinction matters. It creates two tracks inside the same sandbox window. Fast movers get licensed faster. Slower ones stay under observation.
CoinDesk’s March 11 report described the sandbox as sitting at the center of Ghana’s early oversight push. The SEC’s own press release frames it differently. The commission says the pilot lets it validate draft guidelines across every licensing category listed in the VASP Act schedule. That is the actual goal here.
You Might Also Like: Sub-Saharan Africa Is Now One of the Top-Three Growing Regions in Crypto Adoption
Ghana’s parliament passed the VASP legislation after years of pushback from the central bank. Regulators had been issuing caution notices. Then the posture shifted entirely.
West Africa has no unified crypto framework. None. Ghana is now the one setting the standard, and other markets in the region are watching.
After the Sandbox, Everything Opens Up
The SEC is not just testing firms. It is testing its own draft guidelines. Data from these 11 companies will shape how the commission writes activity-based licensing rules across the board.
Once the sandbox closes, those guidelines go public. Then all VASPs, not just this cohort, can apply for formal registration under Act 1154. The current 11 got first access. The broader market gets its turn after.
You Might Also Like: Blockchain.com Enters Africa Amid Rising Crypto Regulation Shift
Investor protection ties into this directly. So do anti-money laundering controls and counter-terrorism financing standards. The SEC said all three feed into what the sandbox is designed to measure. The press release also tied compliance outcomes to future policy, not just licensing.
The model is not unique to Ghana. The UK’s FCA ran a parallel exercise, admitting four firms to test stablecoin issuance in Q1 2026. Different jurisdiction, same logic. Controlled testing before full rules land.
Worth Reading: UK FCA Picks 4 Firms to Test Stablecoins Ahead of 2027 Rules
The SEC issued this announcement under sections 3 and 208© of the Securities Industry Act, 2016, alongside sections 43 to 50 of the VASP Act 2025.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pakistan Opens Banking System to Licensed Crypto Firms, Reversing 2018 Ban
Pakistan's central bank has opened its banking system to licensed virtual asset service providers, reversing a previous ban. This change, following the Virtual Assets Act 2026, allows crypto businesses access to banking services under strict regulations.
GateNews33m ago
BTC edges up 0.46% in 15 minutes: institutional fund outflows and macro risk-off sentiment in sync drove the move
From 15:00 to 15:15 (UTC) on 2026-04-16, BTC logged a +0.46% return within 15 minutes. The price fluctuated in a range of 73,939.7 to 74,440.0 USDT, with an amplitude of 0.68%. During this time window, market attention increased, short-term volatility intensified, and fund-flow characteristics changed noticeably.
The main driver of this deviation is the continued outflow of large amounts of capital from exchanges. According to on-chain data, in the past 24 hours the net flow was -14,408.84 BTC, mainly concentrated in large transfer ranges of more than $1 million (especially>$10M net outflow -12,987.03 BTC). This shows that institutions and large holders actively reduced their BTC holdings on exchanges, and short-term selling pressure was significantly lowered. Against the backdrop of persistently weak liquidity, with order book depth remaining at a low level for a long time, the price has become more sensitive to medium-sized buy orders—amplifying the impact of even modest inflows on spot market price action.
In addition, macro conditions changed in parallel and produced a synchronized effect: easing geopolitical tensions in the Middle East boosted overall market sentiment. International gold prices rose, global equity markets hit new highs, and the market re-evaluated the probability of the Federal Reserve cutting rates within the year, further increasing investor attention to safe-haven assets (including BTC). At the same time, on-chain data indicates that the “whale” trading activity during this phase is at an annual low (>$1M transfers fell to 1,485 transactions). With heavy market wait-and-see sentiment and limited short-term supply, BTC’s responsiveness to sudden buy-side capital was further enhanced.
Investors should be reminded that current market liquidity is still fragile. Insufficient order book depth increases the market’s sensitivity to large capital movements, and short-term volatility may intensify. Going forward, focus on further shifts in on-chain large-fund flows, changes in price action as it breaks through support or resistance regions, and the risks and opportunities brought by related macro policies and geopolitical developments. Please continue to track key data and stay alert to any sudden shocks during the period of abnormal moves.
GateNews2h ago
U.S. Launches "Economic Fury" Campaign Against Iran, Treasury Department Imposes Maximum Pressure
U.S. Defense Secretary Lloyd Austin announced "Economic Fury," a Treasury Department initiative to apply maximum economic pressure on Iran, during a Pentagon briefing on April 16.
GateNews4h ago
Hong Kong Monetary Authority: Middle East Tensions Have Limited Impact on Banking Sector
Eddie Yue from the Hong Kong Monetary Authority states that Hong Kong's banking sector faces limited risk from Middle East tensions, though rising oil prices may impact energy-sensitive sectors. There's no increase in SME assistance requests, and the authority continues to monitor the situation. The anticipated 19.3% default rate for a special loan scheme is being managed through standard collection procedures.
GateNews5h ago
Russia's GDP Fell 1.8% in First Two Months of 2026, Putin Seeks Economic Recovery Plan
Russian President Putin reported a 1.8% GDP decline in early 2026 and called for economic stimulus proposals. In response to U.S. sanctions, Kremlin spokesperson Peskov stated that Russia has adapted to these challenges.
GateNews6h ago
Iran Restores Access to Some International Internet Services
Iran has lifted some restrictions on international internet services, signaling a change in its internet access policies, as announced by Iranian authorities on April 16.
GateNews6h ago