On February 10, 2022, the Central Bank of Kenya (CBK) released a discussion paper on Central Bank Digital Currency (CBDC) inviting comments from the public on the potential use of the CBDC in Kenya. The public has until May 20, 2022, to share their representations with the CBK.
The CBK discussion paper was released a day after the IMF issued a discussion paper on the same topic of CDBDC. As the IMF discussion paper has interrogated the question of legal foundation, this piece will make some references to it.
