Kenyan lawmakers ask local Blockchain Association to come up with crypto bill
Kenya might become the first country in the world where the industry’s representatives would develop the regulatory framework for crypto. According to the Blockchain Association of Kenya (BAK), The National Assembly’s Departmental Committee on Finance and National Planning has directed it to prep ...
Kenya to introduce digital IDs for citizens by year-end
The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. According to the president of Kenya, William Ruto, whose speech at the East Africa Device Assembly Kenya plant in Athi River was cited by local ...
Blockchain technology lets East African farmers sell globally
Small farmers in the developing world may be on the cusp of an agricultural breakthrough. With emerging technologies like satellite imagery, drones and machine learning boosting productivity, it’s becoming more viable than ever to sell their produce in places like Western Europe. Ther ...
World Mobile eyes African rollout after decentralized wireless field tests
Decentralized wireless (DeWi) network operator World Mobile said on June 8 it has completed field tests of its DeWi technology in Kenya, Mozambique, and Nigeria, bringing it closer to a full rollout across the African continent, the company said in the announcement.World Mobile, which aims ...
CBDC ‘may not be a compelling priority,’ says Kenya’s central bank
The Central Bank of Kenya received comments on a discussion paper on the potential issuance of a digital shilling, and hasn’t a definitive conclusion. In a June 2 announcement on Twitter, Kenya’s central bank said it received more than 100 comments from members of the publ ...
Kenya Proposes 3% Tax on Digital Asset Transfers in 2023 Budget Law Amendment
The Kenyan government has proposed amendments to the 2023 budget law that would allow for an additional tax on income from digital asset transfers. The bill was presented to Kenya's parliament on May 4 and would tax income generated from transactions involving digital asset ...
Kenya Plans to Impose Taxes on Cryptocurrency and Online Content
This is how the country wants to fill its budget The initiative has drawn condemnation and outrage from the local crypto lobby Not only traders, but also promoters of cryptocurrency services and products will suffer They will have to pay up to 15% of i ...
Kenyan legislators propose bill to regulate cryptocurrencies as securities
Kenyan legislators have proposed a bill that would classify cryptocurrencies as securities and require issuers to adhere to certain regulations. Economist and blogger Amboko Julians shared screenshots of the draft bill, which indicates that the Kenya Capital Markets Authority (CMA) will oversee t ...