Kenya Enacts Regulatory Framework for Virtual Asset Trading Platforms

Kenya has implemented a comprehensive regulatory framework for cryptocurrencies and other virtual assets, granting oversight to the Central Bank of Kenya (CBK) and Capital Markets Authority (CMA). This legislation aims to attract investment in the sector while ensuring investor protection. Licensed firms are required to maintain physical offices with local directors and undergo compliance audits. The bill, passed last week and awaiting presidential approval, positions Kenya as a leader in African crypto regulation, joining South Africa in establishing comprehensive frameworks.