Coinspeaker
Oct 13, 2025
6 0

Kenya Passes Digital Assets Bill with Central Bank as Licensing Authority

Kenya Approves Cryptocurrency Regulation Bill

  • Kenyan lawmakers approved the Virtual Asset Service Providers Bill to regulate cryptocurrencies and digital assets.
  • The Central Bank of Kenya will license stablecoins and digital assets, while the capital markets regulator will oversee cryptocurrency exchanges.
  • The bill passed parliament but requires presidential approval to become law.

Kenya's Growing Crypto Market

  • Despite no previous regulations, Kenya has a growing digital assets market.
  • In 2023, a 1.5% digital assets tax was introduced for crypto traders.
  • Kenya ranked fourth in Africa for crypto adoption in 2024, following Nigeria, Ethiopia, and Morocco.
  • The IMF advised Kenya to align its crypto laws with global standards for money laundering and terrorism financing risks.

African Crypto Adoption Trends

  • Cryptocurrency is widely used in eastern Africa for cross-border transactions.
  • Stablecoins made up 43% of all cryptocurrency transactions in Sub-Saharan Africa in 2024.
  • Altvest Capital in South Africa adopted Bitcoin as a treasury asset in May 2025.