Kenya
Kenya is East Africa's digital asset bellwether. The VASP Bill 2025 — splitting licensing between the CMA and CBK — would convert one of the world's highest grassroots adoption rates into a supervised market. The 3% Digital Asset Tax already gives the state fiscal skin in the game.
Developing
Capital Markets Authority (CMA) · Central Bank of Kenya (CBK)
VASP Bill 2025 progressing through Parliament; CMA running regulatory sandbox for digital asset firms.
POCAMLA obligations extended to VASPs via Finance Act 2023. STR filings to FRC mandatory.
Partial — Draft guidance aligns with FATF R.16; thresholds under consultation.
3% Digital Asset Tax on gross transfer value (Finance Act 2023).
CBK public warnings; CMA investor-alerts regime applied to token offerings.
- —VASP Bill timing risk — supervision lags adoption until enactment
- —Dual-regulator perimeter (CMA/CBK) could fragment
- —3% gross tax pushes volume to offshore venues
Introduces 3% Digital Asset Tax; extends AML to VASPs.
Proposes licensing regime split between CMA and CBK.
Five tokenised-asset and stablecoin pilots admitted.
30-day consultation on naira-shilling-style fiat-referenced tokens.
- 2023
Finance Act — 3% Digital Asset Tax; AML extended to VASPs
- 2024
CMA sandbox first cohort
- 2025
VASP Bill introduced in Parliament
- 2026
Second sandbox cohort; stablecoin consultation