Kenya and Ghana are tightening cryptocurrency oversight as digital asset use surges across Africa, bringing both opportunity and rising risks.
Kenya and Ghana have introduced new Virtual Asset Service Provider (VASP) regulations, requiring crypto platforms to adopt stricter compliance, reporting, and cybersecurity standards. Officials say the goal is to improve transaction traceability and limit vulnerabilities that have enabled fraud, hacking, and unregulated transfers.
Africa processed USD 205 billion in on-chain crypto transactions between July 2024 and June 2025, making it the world’s third-fastest-growing crypto market. However, rising adoption has been matched by increasing cybercrime, contributing to the continent’s USD 88.6 billion in annual illicit financial losses.
Under the updated frameworks, VASP operators in both countries must implement stronger cybersecurity systems, including user verification, transaction monitoring, reporting of suspicious activity, and full licensing requirements.
Experts say this integrated approach, combining financial rules with mandatory cyber safeguards, could become a regional model as African governments work to expand digital finance while protecting market integrity and user trust.
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