EddieJayonCrypto

 16 Jan 25

tl;dr

Kenya has launched its first comprehensive digital asset bill, seeking public feedback to regulate virtual assets and service providers. The move follows the IMF's call for Kenya to update its digital asset regulation to align with international standards. The proposed bill aims to provide regulator...

"Kenya Launches 'Crypto' Bill Amid Call for Better Oversight"

Kenya has launched its first comprehensive digital asset bill, seeking public feedback to regulate virtual assets and service providers. This move follows the IMF's call for Kenya to update its digital asset regulation to align with international standards. The proposed bill aims to provide regulatory clarity and supervision while managing the risks associated with digital assets. The bill's development was prompted by Kenya's rapid use of digital assets and its desire to lead Africa in financial technology, building on the success of M-Pesa.

The IMF recommended a comprehensive analysis of the current market, financial literacy initiatives, and coordination among relevant authorities to oversee the sector. The proposed bill has not been linked to the IMF, but it reflects Kenya's commitment to leveraging digital assets while addressing associated risks.

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 17 Jan 25
 17 Jan 25
 17 Jan 25