Key Notes

The bill assigns the Central Bank of Kenya authority over stablecoins and digital asset licensing under new regulations.

Kenya ranks fourth in African crypto adoption, following Nigeria, Ethiopia, and Morocco with growing market presence.

Stablecoins represented 43% of Sub-Saharan African crypto transactions in 2024 amid rising continental adoption.

Lawmakers in Kenya have signed off on a bill to establish a regulatory framework for cryptocurrency and other digital assets.

The new law, called the Virtual Asset Service Providers Bill, would place the Central Bank of Kenya in the role of licensing authority for stablecoins and other digital assets while the capital markets regulator would have oversight over cryptocurrency exchanges and related trading platforms.

According

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