Larry Cooke: Advancing crypto literacy and regulatory clarity in Ghana

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As Head of Legal for Binance across Africa, Larry Cooke plays a pivotal role in advancing the company’s mission to foster responsible crypto adoption and build regulatory trust across the continent. Binance, the world’s largest cryptocurrency exchange by trading volume, is committed to increasing the freedom of money globally, a vision anchored in providing the core infrastructure for organizing the world’s crypto and making digital assets more accessible to all.

Central to this mission in Africa is crypto literacy. Binance is actively working to bridge knowledge gaps by promoting education, driving awareness, and collaborating with local stakeholders. In line with this objective, Larry engages in this interview  with Pulse Ghana to discuss the regulatory landscape and emerging adoption trends within Ghana's crypto market.

His goal is to:

• Address knowledge gaps around cryptocurrency use and compliance
  
  

• Clarify Ghana’s evolving regulatory frameworks and their implications for users and businesses
  
  

• Promote a balanced understanding of the opportunities and challenges shaping the country's digital asset ecosystem

With his legal expertise and leadership, Larry is helping Binance build informed and compliant crypto communities, ensuring that innovation in the space is both inclusive and sustainable. 

What does the current state of crypto adoption in Africa look like, especially looking at the Ghana market?

Larry Cooke: Ghana stands at the forefront of cryptocurrency adoption in Africa. Recent studies reveal that approximately 17.3% of Ghanaian adults, equating to about 3.1 million individuals, own some form of cryptocurrency. This figure surpasses the global average of 15%, positioning Ghana as a leader in the digital financial revolution. 

 Notably, the youth are the primary drivers of this movement, with over 70% of Ghanaian crypto owners aged between 18 and 34.

 Cryptocurrencies are expanding financial opportunities for Ghanaians, providing an additional channel for accessing global markets, making payments, and storing value. By complementing traditional financial systems, cryptocurrencies can help increase financial inclusion, promote economic growth, and empower individuals to take control of their financial lives.

Which African countries are leading the way in crypto adoption, and why?

Larry Cooke: The adoption of cryptocurrencies in Africa is steadily increasing, with countries like South Africa leading the way in terms of user engagement and regulatory frameworks.

As for Africa, the number of users in the cryptocurrency market is expected to reach 75.77m users by 2026.

 

The user penetration rate is projected to be 5.50% in 2025 and is expected to increase to 5.90% by 2026.

The revenue in the Cryptocurrencies market for Africa is projected to reach US$4.8bn in 2025.

It is expected to show an annual growth rate (CAGR 2025-2026) of 6.75%, resulting in a projected total amount of US$5.1bn by 2026. In 2025, the average revenue per user in the Cryptocurrencies market is estimated to be US$68.7.

Ghana stands at the forefront of cryptocurrency adoption in Africa. Recent studies reveal that approximately 17.3% of Ghanaian adults, equating to about 3.1 million individuals, own some form of cryptocurrency. This figure surpasses the global average of 15%, positioning Ghana as a leader in the digital financial revolution. Notably, the youth are the primary drivers of this movement, with over 70% of Ghanaian crypto owners aged between 18 and 34.

Between July 2023 and June 2024, Sub-Saharan Africa processed more than $54 billion in stablecoin transactions, making up 43% of all crypto activity in the region (Chainalysis).

What are the main drivers of crypto adoption across the continent and how can Ghanaians learn from leading African countries in terms of crypto adoption?

Larry Cooke: One of the biggest barriers to crypto adoption is education. To close this gap, Binance has been equipping Ghanaians with the skills needed to thrive in the blockchain economy through initiatives like the Binance Academy and the Binance Masterclass, which have trained thousands across Africa. These programs teach essential topics such as blockchain fundamentals, trading strategies, and Web3 development, opening doors to new career paths in the crypto industry.

Growing acceptance to widespread adoption of cryptocurrencies requires a strong foundation that is regulation. Without clear, consistent legal frameworks, crypto may be perceived as a higher-risk option for users and institutions. 

At Binance, we're focused on breaking down barriers, whether through education, accessible investment tools, regulatory engagement and supporting local entrepreneurs. By simplifying the crypto journey and fostering innovation, we’re enabling Ghanaians to take control of their financial future sustainably

The role of regulation as an enabler of crypto’s growth in Africa

How has the use of crypto changed over the last 3–5 years in Africa, particularly in Ghana in terms of accessibility and utility?

What specific strategies has Binance implemented in Africa to ensure crypto adoption reaches the unbanked and underbanked populations?

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