Kenya’s Cryptocurrency Tax: Shaping the Future of Africa’s Digital Economy

Kenya has taken a major step towards integrating cryptocurrencies into its financial framework with the introduction of a new finance bill proposing a 10% excise duty on cryptocurrency transactions. This move signifies an acknowledgement of digital currencies as part of Kenya’s growing economic landscape. The proposed tax is set to generate revenue for the government and could mark a significant shift towards normalizing and regulating cryptocurrencies like Bitcoin and Ethereum in the country.