The Securities and Exchange Commission Ghana has admitted 11 Virtual Asset Service Providers (VASPs) into its regulatory sandbox to test their products and services under the Commission’s supervision.
The initiative allows the firms to pilot their digital asset solutions within a controlled environment while being monitored by the regulator.
The companies admitted into the sandbox are Blu Penguin, HanyPay, Goldbod, Africoin, Hyro Exchange Gh Ltd., HSB Global, Koinkoin, Whitebits, Vaulta, Xchain and Bsystem Ltd.
In a statement, the SEC said the sandbox programme will run for a period of 12 months.
According to the Commission, firms whose products and services are fully developed and meet regulatory requirements after the first six months may transition to the appropriate activity-based licence or registration.
However, companies whose products are not yet market-ready may continue testing their services for the remaining six months of the programme.
The SEC explained that the regulatory sandbox is designed to promote responsible innovation while ensuring investor protection, maintaining market integrity and enforcing compliance with anti-money laundering and counter-terrorism financing standards.
The Commission added that insights gathered from the pilot programme will help shape future policies and licensing frameworks for virtual asset services.
The information will also guide the development of guidelines for various activity-based licensing categories, which will later be published to allow interested firms to apply for licences under the Virtual Asset Service Providers Act, 2025 (Act 1154).
Source: joynews
