Kenya and Ghana have introduced new regulatory frameworks for virtual asset service providers (VASP) to combat fraud and illicit financial flows in their rapidly expanding digital asset markets. These measures aim to improve transaction traceability and close gaps exploited by cybercriminals, reflecting a broader governmental effort across Africa to tighten oversight.

• Africa recorded USD 205 billion in on-chain crypto transactions between July 2024 and June 2025, making it the third-fastest-growing market globally.
• The new VASP laws require crypto platforms to meet stricter compliance, reporting, and cybersecurity standards, including user verification, reporting suspicious transactions, and operational licensing.
• Africa is estimated to lose USD 88.6 billion annually through illicit financial flows, with crypto-linked schemes accounting for an increasing share.