In a massive crackdown on the visibility of digital currencies, financial regulators have ordered an immediate halt to all public advertising for virtual assets and stablecoins across the country.
The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC), in a joint directive issued on 20th February 2026, have given Virtual Asset Service Providers (VASPs) a mere 48 hours to strip their branding from the public eye or face “severe sanctions”.
The move signals a hardening of the state’s stance against unregulated mass marketing in the fintech space, targeting the “increasing advertisement” of digital products that have recently dominated the skylines of Accra and other major cities.
The regulators clarified that no firm, regardless of its status, has the right to engage in mass promotional campaigns without direct clearance.
This includes companies currently operating within the “regulatory sandbox”, a framework designed for testing innovations under supervision, who might have assumed they had more leeway.
“All VASPs, including those operating within the BoG and SEC sandbox, are hereby directed to refrain from mass marketing or public promotional campaigns on virtual assets, unless expressly authorised by the BoG and SEC,” the statement read.
The BoG and SEC expressed deep concern over the “increasing advertisement of virtual asset and stablecoin products, including the use of large billboards in Accra and other parts of the country by certain Virtual Asset Service Providers (VASPs).”
Central to this enforcement is the newly minted Virtual Asset Service Providers Act, 2025 (Act 1154). Under this legislation, the very act of advocating for virtual assets is now a regulated profession requiring formal registration with both the central bank and the SEC.
While the Act allows for a transition period for existing firms to seek licensing, the regulators have made it clear that this “grace period” does not extend to promotional activities. Effectively, all public-facing sales pitches are suspended until the regulatory regime is fully operational.
“Furthermore, virtual asset advocacy is a regulated activity under the Virtual Asset Service Providers Act, 2025 (Act 1154), and requires registration with the BoG and SEC. Detailed rules on advocacy and advertisements will be issued in due course,” the regulators added.
The ultimatum is direct and leaves little room for negotiation. Operators who have invested heavily in outdoor media and digital campaigns must now scramble to dismantle their assets by the end of the weekend.
“This notice is to caution VASPs who have mounted billboards and other forms of public advertisement to take them down within 48 hours of the date of this notice. Failure to comply will result in severe sanctions against the offending service providers,” the regulators warned.
The crackdown is interpreted as a defensive measure to prevent consumer exposure to high-risk or unauthorised products while the BoG and SEC finalise the detailed rules that will govern the future of digital asset trade in Ghana.
The joint directive is the latest step in Ghana’s effort to manage a fast-evolving digital landscape where stablecoins and cryptocurrencies have seen rapid adoption. By curbing the mass marketing element, the state hopes to manage the hype while strengthening its oversight.
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