Bank of Ghana Orders Banks to Cut Ties With Unauthorised USD Wallets on Crypto Platforms

The Bank of Ghana has directed banks and other financial institutions to stop supporting USD wallet services offered by unauthorised crypto platforms to users in Ghana.

In Notice No. BG/GOV/SEC/2026/14 dated June 12, 2026, the BoG said it is concerned about crypto platforms running fiat currency wallets, mainly in US dollars, that are funded through bank transfers, payment cards, and other channels provided by regulated institutions.

The central bank stated that these activities require approval under the Payment Systems and Services Act, 2019, the Foreign Exchange Act, 2006, and other regulations. The crypto platforms involved have not been licensed by BoG to offer those services.

*Key directives:*

- *Banks, SDIs, EMIs, PSPs, and all regulated financial institutions* must not establish or maintain any arrangements that help fund, operate, or settle these unauthorised USD wallets.

- *Institutions already providing support* through banking, payments, card acquiring, or settlement must end that support immediately.

- *Non-compliance* could lead to supervisory or enforcement action from the Bank of Ghana.

For registration or technical enquiries, institutions should contact vasp@bog.gov.gh.

The directive was signed by Aimee Vyda Quashie, Secretary of the Bank.

*What this means:* If you use a crypto app in Ghana with a USD wallet that you top up via your bank or card, that service may soon be blocked. The BoG is cracking down on unlicensed foreign-currency services linked to crypto platforms.