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Kenya freezes Binance accounts in money laundering purge
Kenya has seen a significant increase in cryptocurrency use over the past three years, driven by the adoption of stablecoins for remittances, merchant payments and cross-border transactions.
Kenya has frozen an undisclosed number of Binance user accounts in its first major crackdown on the booming cryptocurrency industry amid global concerns that digital currencies are being used for fraud, money laundering, and financing terrorist activities.
The government has ordered Binance, the world’s largest cryptocurrency exchange, to suspend the accounts for investigation.
