kenya

In a recent analysis published by the Northern Forum – a non-profit organization under UNDP Climate Change Adaptation, Bitcoin mining in Kenya is being evaluated as a sustainable model that combines technology and environmental protection.

At #Kenya , a large amount of surplus geothermal energy is not being used efficiently. To take advantage of this resource, companies like Gridless have implemented a Bitcoin mining model using clean electricity that was previously wasted, helping to stabilize the power grid while creating additional economic value.

Kenya, in partnership with the United Nations Development Programme (UNDP) and Microsoft, has established the Africa Digital and AI Skills Competency Hub.
The centre aims to equip public sector workers with digital and AI skills to improve service delivery across Africa.
The hub aligns with Kenya’s National Digital Master Plan and focuses on themes such as human-centered problem solving and strategic visioning.

In a significant shift from its previous cautious stance, Kenya is advancing towards regulating cryptocurrencies. On January 10, Treasury Cabinet Secretary John Mbadi announced the government's commitment to establishing a comprehensive legal and regulatory framework for cryptocurrencies 📜.
🔍 The Draft Proposal: A New Era for Crypto in Kenya
The draft proposal, titled 'National Policy on Virtual Assets and Virtual Asset Service Providers,' aims to create a fair, competitive, and stable market for cryptocurrencies in Kenya 📈. It addresses potential risks such as money laundering, terrorism financing, and consumer protection issues 🚨. The proposal seeks to provide a comprehensive legal and regulatory framework governing virtual asset activities and virtual asset service providers (VASPs) 📊.
📈 A New Chapter for Crypto Adoption in Africa
Kenya's move towards regulation could lead to increased adoption and growth in the crypto market 🚀. The country ranks 21st globally on the Chainalysis Crypto Adoption Index, with stablecoin transactions accounting for nearly half of the total transaction volume in the region 📊. Between July 2023 and July 2024, Kenya received $3.3 billion worth of stablecoins, with Nigeria leading the region with $21.8 billion in stablecoin transaction volume 📈.
👥 Public Feedback and the Future of Crypto Regulation in Kenya
Public feedback on the draft proposal is open until January 24 📅. If approved, Kenya could join other African nations like South Africa and Nigeria, which have already implemented cryptocurrency regulations 🌍. This development marks a significant milestone in Kenya's journey towards embracing cryptocurrencies and providing a secure and regulated environment for crypto enthusiasts 🚀.
#USJobsSurge256K
#Kenya
#cryptouniverseofficial
$BTC

Kenya is set to introduce legislation that would permit the use of cryptocurrencies.

Kenyans Retain Interest in Crypto Despite Government Opposition
Kenya is preparing legislation that would allow the use of cryptocurrencies, a senior official in President William Ruto’s government has said. In a statement explaining the policy shift, Kenyan Treasury Cabinet Secretary John Mbadi suggested that embracing cryptocurrencies would enable the East African nation to retain its status as a leader in financial innovation on the continent.
According to a report in the Standard, this policy change marks a departure from the previous Kenyan government’s stance on crypto. As noted in a Bitcoin.com News report, the Kenyan government previously cited concerns about money laundering and terrorism financing as reasons for opposing cryptocurrencies. The association of cryptocurrencies with scams has further deepened the government’s mistrust.
However, many Kenyans have continued to embrace cryptocurrencies despite numerous threats and warnings against their use, as evidenced by several studies. Furthermore, the Kenyan Treasury collected $77 million from crypto traders, suggesting that the industry could become an important revenue source for the government.
These factors, along with others, have seemingly prompted a rethink by a government that has already embraced bitcoin mining.
“Kenya’s financial sector is a beacon of innovation and growth in Africa. The emergence and growth of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) have given rise to innovations in the local and international financial system with dynamic opportunities and challenges,” Mbadi said.
Although he acknowledged the risks involved in embracing cryptocurrency, Mbadi argued these can be addressed by creating a framework that harnesses the benefits while mitigating the risks. The Kenyan Treasury Cabinet Secretary also revealed that the draft legislation on cryptocurrency use seeks not only to create a “fair, competitive, and stable market” for VAs and VASPs but also to enhance financial literacy.
#binance #wendy #kenya $BTC

🔔 MARKET MOVING NEWS!

1️⃣ Singapore Blocks Access To Polymarket Over Unlicensed Gambling Concerns ❓

Singapore has reportedly blocked access to the prediction market platform Polymarket as part of a crackdown on unlicensed gambling platforms. Users attempting to visit the site from Singapore receive a warning referencing Section 20 of the Gambling Control Act 2022. Notably, the act imposes fines of up to $10,000, jail terms of up to six months, or both, for gambling with unlicensed operators.

Alex Zuo, Investment and Custody vice president at Cobo Global, tweeted,

Polymarket is officially defined as a gambling website in Singapore. If you want to place a bet, you can only go to a state-owned gambling company. Otherwise, you will face fines and imprisonment.

#Polymarket

2️⃣ Mango Markets To Wind Down In Wake Of SEC Settlement, DAO Battle ☄️

According to a recent post, Solana-based decentralised exchange Mango Markets will be winding down its operations on Monday. This move came after an SEC settlement that required Mango's governance DAO and development organisation to destroy their MNGO tokens and delist them from all exchanges.

The post also noted that proposals to modify Mango Markets' interest rates and collateral requirements in order to make borrowing and lending “economically unviable” will become executable on Monday. Both proposals currently show unanimous support and have reached the threshold needed for passage.

3️⃣ Kenya Drafts Legislation To Regulate Cryptocurrencies ▶️

According to Treasury Cabinet Secretary John Mbadi, the Kenyan government is preparing legislation to regulate cryptocurrencies. Notably, this marks a shift from the cautious warnings previously issued by the Central Bank of Kenya (CBK). The announcement comes as Kenya drafts a new proposal titled “National Policy on Virtual Assets and Virtual Asset Service Providers.” This draft proposal outlines plans to create a “fair, competitive, and stable market for virtual assets (VAs) and virtual asset service providers (VASPs) in Kenya,” while addressing risks like money laundering, terrorism financing and consumer protection issues. It will reportedly be open for public feedback until Jan. 24.

#Kenya

4️⃣ NY Attorney General Files Lawsuit To Recoup $2.2M In Crypto Lost To Job Scam ‼️

New York Attorney General Letitia James has reportedly initiated legal action to recover more than $2 million in cryptocurrency swindled from New Yorkers who were duped into buying crypto under the false promise of securing remote work opportunities. The stolen crypto has reportedly been frozen with assistance from the US Secret Service. While the alleged scammers' identities are currently unknown, James plans on serving the alleged scammers the lawsuit via an NFT airdropped into the scammer-controlled wallets.

James stated,

Service by NFT will provide the scammers with notice of the litigation by giving them a link to an [Office of the Attorney General] website containing all of the pleadings. No other state or federal regulator has served a lawsuit using this method before.

#Crypto2025Trands #CryptoAMA