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Treasury seeks to tax crypto exchanges serving over 4m Kenyans
A parliamentary committee has backed a Bill that will allow the taxation of more than four million Kenyans estimated to be trading in cryptocurrencies. PHOTO | SHUTTERSTOCK
Kenya will start taxing cryptocurrency exchanges for commissions they receive from the over four million people dealing in digital currencies in the country if fresh regulations are adopted.
The new regulations guiding the payment of the digital service tax require platforms that facilitate the buying and selling of cryptocurrencies and other digital assets to pay a 1.5 percent duty.
