{"id":146583,"date":"2025-01-12T18:00:26","date_gmt":"2025-01-12T16:00:26","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=146583"},"modified":"2025-01-12T04:48:23","modified_gmt":"2025-01-12T02:48:23","slug":"kenya-plans-crypto-regulations-and-asks-for-public-input","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/kenya-plans-crypto-regulations-and-asks-for-public-input\/","title":{"rendered":"Kenya Plans Crypto Regulations and Asks for Public Input"},"content":{"rendered":"<p>The National Treasury and Economic Planning Department has released two key documents for consultation, inviting citizens and stakeholders to provide feedback by January 24.<\/p>\n<p>The<strong><a href=\"https:\/\/bitcoinke.io\/wp-content\/uploads\/2025\/01\/The-Draft-National-Policy-on-Virtual-Assets-and-Virtual-Asset-Service-Providers-BitKE.pdf\" target=\"_blank\" rel=\"nofollow\"> first document<\/a><\/strong>, the \u201cDraft National Policy on Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs),\u201d outlines plans to establish a fair and transparent market for virtual assets while ensuring robust governance for all participants. The second, the \u201cVirtual Asset Service Providers Bill, 2025,\u201d focuses on creating clear regulatory guidelines, licensing requirements, and obligations for VASPs to combat issues such as money laundering and terrorism financing.<\/p>\n<p>This move signals a notable shift in Kenya\u2019s stance on cryptocurrencies. Once opposed to digital assets\u2014cryptocurrencies were banned as legal tender in 2015\u2014the government is now positioning itself to regulate and harness the industry\u2019s potential. Around 2.8 million Kenyans are already involved in crypto, reflecting the sector\u2019s growing influence in the country.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/biden-pushes-controversial-crypto-regulation-in-his-final-days-as-u-s-president\/\" title=\"Biden Pushes Controversial Crypto Regulation in His Final Days as U.S. President\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/skynews-joe-biden-military_5285386-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Biden Pushes Controversial Crypto Regulation in His Final Days as U.S. President<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Cabinet Secretary for Treasury and Economic Planning John Mbadi highlighted the dynamic opportunities presented by virtual assets while acknowledging the associated risks, such as fraud and financial crime. He stressed that these challenges can be addressed through a well-structured regulatory system.<\/p>\n<p>Kenya\u2019s pivot comes in response to advice from the International Monetary Fund (IMF), which recommended that the country establish a clear legislative framework to regulate digital assets, protect consumers, and promote financial literacy. With this new direction, Kenya aims to create a safer and more inclusive environment for cryptocurrency innovation and adoption.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kenya is taking a significant step toward embracing the cryptocurrency industry by seeking public input on a proposed regulatory framework.<\/p>\n","protected":false},"author":7,"featured_media":139852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-146583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kenya Plans Crypto Regulations and Asks for Public Input<\/title>\n<meta name=\"description\" content=\"Kenya is taking a 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