Kenya Approves Crypto Regulation Bill to Spur Investment

 Kenya Approves Crypto Regulation Bill to Spur Investment

On October 13, the Kenyan Parliament passed a new law to regulate digital assets and cryptocurrencies, aiming to provide legal certainty for industry participants and attract more investment into the sector.

Under the legislation, crypto exchanges and service providers will need to register with a regulatory authority and comply with anti-money laundering (AML) and know-your-customer (KYC) obligations. The move is seen as a major step in Africa, where crypto adoption is high but regulatory frameworks have been lagging.

Proponents argue the new law will reduce scams, bring more capital into Kenya, and position the country as a hub for blockchain innovation in East Africa. Skeptics, however, caution that overregulation could stifle smaller projects and reduce the borderless appeal of crypto.