Kenya Poised to Regulate Cryptocurrency Market with New VASP Bill
Kenya is taking a significant step towards regulating its burgeoning cryptocurrency market with the recent passage of the Virtual Asset Service Providers (VASP) Bill, 2025. This landmark legislation, approved by the Kenyan Parliament, aims to establish a comprehensive legal framework for digital assets, making Kenya one of the first African nations to do so. The Bill is anticipated to be signed into law by President William Ruto soon, which will position Nairobi as a potential fintech hub within the region.
Shaping the Crypto Landscape in Kenya
The VASP Bill, 2025, represents a significant regulatory push, seeking to license and oversee companies that offer services related to virtual assets like Bitcoin, Ethereum, and stablecoins. The legislation is designed to ensure compliance with stringent standards, including consumer protection measures, money laundering prevention, and cybersecurity protocols. This proactive approach will help establish a secure and transparent environment for digital asset trading. Kenya has emerged as a significant player in Africa’s crypto landscape, ranking among the top three markets on the continent based on peer-to-peer trading activity. This new regulatory framework is expected to formalize and professionalize the sector, safeguarding consumers and promoting responsible innovation.
Kenya’s actions signal a commitment to embrace and guide the evolution of digital assets, setting a potential example for other African countries to follow.
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