Kenya’s draft crypto legislation will be open for public comments until January 24
John Mbadi, the Kenyan Minister of Finance, stated that the government is committed to establishing a legal and regulatory framework for cryptocurrencies, and has drafted a proposal for a "National Policy on Virtual Assets and Virtual Asset Service Providers". The proposal aims to create a fair, competitive and stable market for cryptocurrencies, while addressing risks such as money laundering, financing of terrorism, and consumer protection.
The proposal suggests building a comprehensive legal and regulatory framework to manage virtual asset activities and their service providers (VASPs), and to develop relevant standards and procedures. Its goal is to promote the healthy development of the Kenyan virtual asset market. The proposal will be open for public feedback until January 24. If approved, Kenya will join the ranks of countries such as South Africa and Nigeria that have implemented cryptocurrency regulations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Altcoin Bulls Hold Strong Despite Bearish Sentiment
While 90% turn bearish, altcoin believers say the best of the cycle is still ahead.Bullish Hope in a Bearish CrowdWhy the Altcoin Market Feels Weak Right NowThe Opportunity Behind the Fear

DWF Labs Partners: Hold USD1 to get Falcon Finance closed beta test qualification
DWF Labs Partner: $250 million liquidity fund currently has $184 million left
BNB breaks through $590
Trending news
MoreCrypto prices
More








