Kenya Passes Bill to Regulate Bitcoin and Cryptocurrencies
Kenya has enacted new legislation to regulate Bitcoin and cryptocurrencies, granting digital assets legal recognition.
The Virtual Asset Service Providers Bill assigns the Central Bank of Kenya to license issuers of stablecoins and virtual assets, while the Capital Markets Authority will oversee crypto exchanges and trading platforms.
The legislation aims to encourage innovation in virtual asset services and attract international investments in Kenya's digital economy, addressing concerns around fraud and market manipulation.
The move would position the East African nation as a leader in Africa's fintech landscape.
- Regulatory framework for digital assets
- Licensing for issuers of stablecoins and virtual assets
- Overseeing crypto exchanges and trading platforms
Author's summary: Kenya regulates Bitcoin and cryptocurrencies.
More News
- Is the UK’s national debt set to match the size of the economy? – Full Fact
- Empire comes home to the U.S.
- Falcons stun Bills behind dominant defensive performance
- Emma Raducanu struggles physically in first-round exit at Ningbo Open
- Alphabet to Build $15B Data Hub in India
- Economists Demand Relief for Poorer Countries Facing Unsustainable Debt Burdens
- Families Demand Hamas Return Bodies of 24 Israeli Hostages
- Smoking Tied to Faster Huntington’s Decline
- Centre transfers 2 Gujarat High Court judges; Justice Sandeep Bhatt moved despite opposition from Bar
- M40 driver should have taken a break to prevent death of his passenger