Kenya’s US$20 billion crypto market takes first step to regulation

News published on Dec 27, 2023 @ 11:49 am

Kenya’s parliament has asked the Blockchain Association of Kenya (BAK) to prepare the first draft of what might become the Virtual Asset Service Provider’s Bill, commonly known as the Crypto Bill. The decision followed BAK’s second appearance before the National Assembly Committee on Finance and National Planning on October 31. BAK’s first engagement with the committee was in August 2023 when it opposed the Digital Asset Tax (DAT) provision in Kenya’s Finance Act, 2023.

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