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New rules set up to Sh500m capital for crypto firms
With high peer-to-peer (P2P) crypto transaction volumes, Kenya often ranks high globally and in Africa, driven by remittances and a strong mobile money base.
Cryptocurrency operators will need to maintain a minimum paid-up capital of up to Sh500 million under new regulations that will govern the trading of digital money in Kenya.
Entities falling under the regulations include stablecoin and tokenisation issuers, virtual asset exchanges and wallet providers, initial coin issuers, and virtual asset brokers, managers, investment advisers and payment processors.
