Kenya Officially Set To Legalize Cryptocurrency Trading
In the latest development, Kenya is officially preparing to legalize cryptocurrency trading, including Bitcoin, according to officials. Kenyan Finance Minister John Mbadi said the East African country is preparing crypto-asset legislation, a major shift in policy for the industry. Cryptocurrencies have been banned in Kenya, but are still widely used underground by the public, circumventing restrictions. Mbadi said: “The Kenyan government is committed to establishing the necessary legal and regulatory framework to take advantage of the opportunities presented by VAs and VASPs, while managing the risks arising from them.” The new draft policy aims to establish fair, competitive and fair competition for VAs and VASPs. and stable markets, while promoting innovation and improving financial literacy.
