Kenya Takes Steps Forward with Digital Asset Regulation

Kenya’s Parliament has taken a significant step towards regulating its digital asset sector, passing the Virtual Asset Service Providers Bill. This legislation aims to create clear rules for investors to participate in the growing cryptocurrency industry. The bill designates the Central Bank of Kenya as the body responsible for licensing stablecoins and other virtual asset issuances. Meanwhile, the Capital Markets Authority will oversee the issuance of licenses for cryptocurrency exchanges and other trading platforms.