Kenya Introduces VASP Bill to Regulate Cryptocurrency Sector

Kenya is taking a significant step towards regulating its booming cryptocurrency sector with the introduction of the Virtual Asset Service Providers (VASP) Bill, 2025. Presented by the National Treasury, this legislation aims to establish a comprehensive legal framework for the country’s digital asset ecosystem, which is estimated to be worth KSh2.4 trillion ($18.54 billion annually), representing nearly 20% of Kenya’s GDP. This move reflects the government’s acknowledgment of cryptocurrency’s economic potential and its need to mitigate associated risks like money laundering and tax evasion.