Parliament has signaled a renewed push to shape the country’s digital finance future, with lawmakers urging regulators and industry players to prioritise trust, consumer protection and practical implementation.
This comes as Parliament deepens engagement with regulators and the private sector following the passage of the Virtual Asset Service Providers (VASP) Bill in December 2025, aimed at bringing clarity and oversight to Ghana’s fast-growing digital asset space.
Speaking at the launch of The Future of Finance Dialogues and the Ghana Virtual Assets Playbook in Accra, Chair of Parliament’s Select Committee on Information and Communications, Abed-Nego Lamangin Bandim, said digital finance was no longer a speculative frontier but already integral to how Ghanaians save, transact and invest.
Addressing officials from the Bank of Ghana and the Securities and Exchange Commission, as well as fintech executives and industry leaders, he indicated that the task before policymakers had shifted from whether to engage digital innovation to how to govern it responsibly.
“Digital markets must expand without weakening public trust,” he said, stressing that innovation must progress alongside strong consumer protection and financial stability.
He described the passage of the VASP Bill as a turning point in Ghana’s digital finance journey, noting that the legislation seeks to eliminate regulatory uncertainty around virtual assets while providing legal clarity for investors, innovators and regulators.
According to him, the law reflects Parliament’s preference for regulatory models that safeguard Ghana’s monetary sovereignty, including supervised, cedi-denominated digital instruments that integrate with existing banking and payment systems.
Despite the legislative milestone, the lawmaker cautioned that the success of the framework would depend on disciplined implementation, effective coordination among regulatory bodies and responsible industry conduct.
He outlined three priorities for the next phase of reforms: ensuring policy coherence across financial regulation, data protection and digital trust systems; balancing innovation with consumer protection through tools such as regulatory sandboxes; and enforcing clear standards and accountability across complex digital ecosystems.
The Chair of the Committee urged stakeholders to ground their discussions in what could realistically be achieved within the first year of implementation, warning that poorly sequenced reforms could either stifle innovation or expose consumers to undue risk.
He further described regulators as “architects of the future” rather than gatekeepers, and called on the private sector to act as a long-term partner in building resilient, inclusive financial systems.
“If we get this right, Ghana will not merely adopt global models. We will help shape them for Africa and beyond.” he said.
With the VASP Bill now in force and engagement between regulators and industry intensifying, attention is expected to shift towards translating policy intent into practice, ensuring innovation advances alongside consumer protection, financial stability and public confidence.
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Source: www.myjoyonline.com