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Crypto firms lobby against Sh10 million fine in new Bill

Treasury notes that virtual assets have gained traction in the country due to the public’s desire for alternative investment options.

Photo credit: Shutterstock

By  Edwin Mutai

Nation Media Group

Political Reporter

Investors in the cryptocurrency market want Parliament to reduce the Sh10 million fine prescribed in the Virtual Asset Service Providers (VASPs) Bill, 2025, arguing it is excessively punitive.

The Bill provides for fines up to Sh10 million per infraction and prison term of up to five years for violators.

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