The Republic of Kenya is currently making moves to create a legal framework for crypto operations. Interestingly, this rather exciting development comes shortly after the International Monetary Fund (IMF) recommended the East African nation overhaul its current crypto policy and align with global standards.

Kenya Takes Aim At Crypto Regulation 

In an effort to adopt a more inclusive approach toward the crypto industry, the Kenyan government through its National Treasury and Economic Planning Department has called for public consultation on its proposed regulatory structure.

This framework centers around two documents, one of which is “The Draft National Policy On Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs)” which aims to guide the governance of VAs and VASPs as well ensure a fair and efficient market for all stakeholders among other objectives.

The second document is a proposed legislation named the “The Virtual Asset Service Providers Bill, 2025” which focuses on the designation of regulatory authorities and licensing requirements for VASPs. This bill will also highlight general obligations for VASPs in regards to prevention of money laundering, terrorism financing and proliferation financing.

Public consultations on bo

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Author: Semilore Faleti

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