Kenya's government has announced plans to regulate virtual assets and virtual asset service providers in order to spur innovation, improve financial literacy, and reduce the risks of fraud and money laundering. The Treasury launched a draft policy in December to establish a stable and competitive cryptocurrency market, with the aim of supporting fintech innovation and aligning with global regulatory standards. The proposed law is a response to the growing number of Kenyans using digital currencies, with around 4 million now owning digital assets. Clear rules are seen as necessary to address concerns about illicit activities while still promoting economic growth. Kenya's strategic approach aims to balance innovation and consumer protection, positioning the nation as a regional leader in digital finance.



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