Cryptocurrencies

Kenya Introduces Bill Seeking Cryptos to Disclose Owners

The bill designates the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) as joint regulators of the crypto industry.

April 8, 2025
1,017 1 minute read
Kenya Introduces Bill Seeking Cryptos to Disclose Owners
Treasury Cabinet Secretary, John Mbadi
Kenya has introduced the Virtual Asset Service Providers Bill of 2025 to regulate the cryptocurrency sector by requiring crypto exchanges and wallet providers to disclose the identities of cryptocurrency owners.
This move is part of an effort to enhance tax compliance and combat financial crimes, including money laundering and terrorist financing.
The bill designates the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) as joint regulators of the crypto industry.
Today, the crypto industry has an estimated 730,000 users in Kenya.
The proposed legislation seeks to balance innovation and financial inclusion with risk management, drawing inspiration from Kenya’s successful mobile money framework, M-Pesa.
The Treasury Cabinet Secretary John Mbadi is inviting public feedback on the bill until April 25, 2025, as it aims to position Kenya as a leader in financial technology in Africa while addressing regulatory gaps in the rapidly growing digital asset market.
April 8, 2025
1,017 1 minute read
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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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