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Treasury allows firms to sell digital coins for fundraising
Kenya is tightening oversight of initial coin offerings with new draft rules to regulate fundraising through digital assets.
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The Treasury has issued draft rules guiding how investors will raise funds through initial coin offerings, allowing firms to issue their own digital currencies for investors to buy.
An initial coin offering (ICO) involves a company raising funds by giving investors tokens for their cash or cryptocurrency, such as Bitcoin, as opposed to obtaining shares in the company through a traditional approach, such as an initial public offering (IPO).
