Kenya is implementing crypto regulations to curb money manipulation, focusing on risks like money laundering, terrorism financing, and fraud. The 2025 Virtual Assets Service Providers (VASP) Bill, backed by the National Treasury, mandates licensing for crypto exchanges and wallet services, enforcing anti-money laundering (AML) and counter-terrorism financing (CFT) compliance. It emphasizes consumer protection, cybersecurity, and financial literacy to ensure market integrity. Prompted by Kenya’s FATF grey listing and rising crypto adoption, the framework aligns with global standards, aiming for a fair, stable market while fostering innovation and addressing illicit activities like scams and tax evasion.
