kenya coins - Kenya Finalizes Draft Regulations for Crypto Firms
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Kenya has completed public consultations on its draft Virtual Asset Service Providers (VASP) regulations, marking a significant step towards formalizing oversight of the digital asset sector. Announced by the National Treasury on April 11, the regulations aim to implement the 2025 law governing crypto-related businesses. The proposed rules set licensing requirements, supervisory standards, and consumer safeguards for firms dealing in cryptocurrencies, tokenized assets, and stablecoins.The regulations outline entry thresholds, including ownership suitability tests, capital requirements, and governance standards. They also impose obligations related to risk management, anti-money laundering compliance, and consumer protection, such as mandatory disclosures and transparent pricing. The framework introduces market conduct provisions to curb manipulation and insider activity, requiring due diligence for asset listings and ongoing trading activity monitoring. The central bank and capital markets authorities will share oversight responsibilities.Kenya's move aligns with global regulatory trends to define sectoral rules while fostering innovation. The next phase involves reviewing feedback and refining the draft regulations, which will shape how firms operate in Kenya's fintech market. This development comes amid rapid digital asset adoption across Africa, driven by high transaction costs and limited access to stable currencies.
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? KEY FEATURES
- ? Full match statistics and heatmaps
- ? Player rating and post-match interviews
- ? Tactical analysis with annotated diagrams
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