The initiative follows the enactment of the Virtual Asset Service Providers Act, 2025 (Act 1154), which provides the legal framework for the regulation of virtual asset-related activities in the country. 

A statement issued by the Commission and monitored by the Ghana News Agency, said the regulatory sandbox would allow selected Virtual Asset Service Providers to pilot their products and services within a controlled environment under the supervision of the SEC. 

It said the sandbox programme would run for a period of 12 months, during which participating firms would test their innovations while complying with regulatory requirements designed to safeguard investors and maintain market integrity. 

According to the Commission, after the first six months of the programme, VASPs whose products and services are deemed market-ready and compliant with regulatory standards may be transitioned to the appropriate activity-based licensing or registration regime. 

However, firms whose products and services are not yet ready for full market entry may be allowed to continue testing within the sandbox for the remaining six months, subject to the Commission’s regulatory assessment. 

The SEC said the initiative forms part of broader efforts to support innovation while ensuring effective investor protection, market transparency, and compliance with anti-money laundering and counter-terrorism financing standards. 

The Commission noted that lessons and data gathered during the pilot phase would inform the development of comprehensive regulatory guidelines for the sector. 

It said the insights gained would enable the Commission to finalise guidelines for the various activity-based licensing categories provided under the Virtual Asset Service Providers Act. 

The SEC indicated that once these guidelines are published, the Commission would open the space for all eligible Virtual Asset Service Providers to apply for licensing or registration under the Act. 

The statement added that selected virtual asset service providers had been admitted into the regulatory sandbox to support the Commission in validating the draft guidelines relating to the various activity-based licensing categories outlined in the Schedule of the Act. 

The Commission said that Virtual Asset Service Providers such as HanyPay, Africoin amongst others had been admitted into the regulatory sandbox to pilot their products and services under its oversight: 

According to the Securities and Exchange Commission, Ghana, the participation of the companies in the sandbox will provide the Commission with the opportunity to validate draft regulatory guidelines for the various activity-based licensing categories outlined in the Virtual Asset Service Providers Act, 2025 (Act 1154). 

The Commission explained that insights from the pilot programme would support the development of a robust regulatory framework for the virtual asset ecosystem in Ghana while ensuring adequate safeguards for investors and the financial system.