Kenya’s Draft VASP Bill Faces Backlash Over Binance-Linked Influence

Kenya’s proposed Virtual Asset Service Providers (VASP) Bill has sparked significant controversy among local cryptocurrency firms due to the inclusion of a Binance-affiliated think tank on its regulatory oversight board. The Virtual Asset Chamber of Commerce (VAC), which receives $6,000 monthly from Binance for policy advocacy, is one of five private-sector entities nominated to the new Virtual Assets Regulatory Authority. Critics argue that this arrangement raises concerns about undue influence and conflicts of interest in the regulation of Kenya’s burgeoning crypto sector. The bill, currently under review, aims to establish a framework for overseeing virtual asset service providers but has faced pushback from industry stakeholders who question the transparency and fairness of the proposed regulatory structure. As the debate continues, the outcome could have significant implications for the future of cryptocurrency regulation in Kenya and potentially set a precedent for other African nations navigating the complexities of digital asset oversight.

Crypto Firms Criticize Kenya’s Draft Bill for Alleged Binance Influence

Kenya’s proposed VIRTUAL Asset Service Providers (VASP) Bill has drawn sharp criticism from local crypto firms over the inclusion of a Binance-linked think tank on its regulatory oversight board. The Virtual Asset Chamber of Commerce (VAC), which receives $6,000 monthly from Binance for "policy advocacy," is named as one of five private-sector nominators to the new Virtual Assets Regulatory Authority.

The bill, now awaiting committee review after passing its Second Reading, WOULD grant VAC a seat alongside representatives from Kenya’s National Treasury, Central Bank, and Capital Markets Authority. Critics argue the arrangement creates a conflict of interest, potentially allowing Binance disproportionate influence over the country’s digital asset regulations.

Several Kenyan crypto startups have publicly condemned the move, with one executive stating "All regulation should serve the market, not individual players." The controversy highlights growing tensions between crypto exchanges and local operators as African nations develop regulatory frameworks for digital assets.

BNB Chain Faces Sustainability Concerns as Developer Activity Plummets

Binance's BNB Chain, once a beacon of rapid growth in the crypto ecosystem, now shows alarming signs of fragility. While BNB's price stability and futures open interest suggest surface-level resilience, a staggering 85% monthly drop in smart contract deployments and developer activity reveals deeper systemic risks.

The chain's over-reliance on DeFi has become its Achilles' heel. Transaction data shows near-total concentration in decentralized exchanges and lending protocols, with negligible activity in gaming, NFTs, or other innovation sectors that drive competing blockchains. This lack of diversification leaves BNB uniquely exposed to DeFi's cyclical downturns.

Smart contract engagement has collapsed to yearly lows, suggesting waning developer confidence. Unlike ethereum or Solana where multiple sectors thrive simultaneously, BNB's monolithic structure amplifies sector-specific shocks. The absence of meaningful growth beyond DeFi raises existential questions about the chain's long-term viability in an increasingly competitive layer-1 landscape.

BNB Holds Steady Above $648 Ahead of Maxwell Hard Fork Upgrade

BNB maintained a tight trading range on Sunday, demonstrating resilience despite low market volatility. The stability comes as the BNB Chain community prepares for the Maxwell hard fork upgrade, scheduled for June 30.

The upgrade promises to significantly enhance the BNB Smart Chain (BSC) mainnet by slashing block times from 1.5 seconds to 0.75 seconds—effectively doubling the network's throughput capacity. This advancement positions BSC to compete more aggressively with high-speed blockchains like Solana.

Three protocol improvement proposals—BEP-524, BEP-563, and BEP-564—will drive the upgrade. Key changes include extended validator block proposal turns (16 blocks per turn) and an increased epoch length from 500 to 1,000 blocks. These adjustments aim to bolster network stability under accelerated conditions.

To mitigate potential congestion, the per-block gas limit will be reduced by half, from 70 million to 35 million. Network improvements are also anticipated, with block propagation among validators expected to occur within 400 milliseconds.

Ruvi AI Emerges as High-Growth Challenger to Binance Coin, Experts Foresee 13,700% ROI by 2026

Ruvi AI (RUVI) is rapidly gaining traction as a disruptive force in the crypto market, with analysts projecting a staggering 13,700% return on investment by 2026—outpacing established players like Binance Coin (BNB). The project has already secured $2 million in funding, sold 170 million tokens, and cultivated a community of 1,700+ holders.

What sets Ruvi AI apart is its fusion of blockchain and artificial intelligence to solve real-world problems. While BNB thrives as an exchange utility token, Ruvi AI targets high-demand sectors like marketing and entertainment with AI-driven solutions. Its marketing tools optimize ad targeting, while content creators leverage blockchain-backed payments and audience analytics.

The project's sector-specific approach and technological integration position it for sustained growth. As summer draws to a close, investors are shifting focus from exchange tokens to AI-powered ecosystems with tangible use cases.

SYRUP Token Faces Profit-Taking Pressure Amid Bullish Sentiment

Maple Finance’s SYRUP token experienced a 3.25% decline on June 28, 2025, partially reversing the previous day’s 6.17% surge. The dip was fueled by profit-taking among top holders, with $1.85 million in gains realized in the preceding week. Binance traders amplified selling pressure, yet 85% of the community remains optimistic about a rebound.

Early investors led the sell-off, with the three largest wallets cashing out $911,000. Despite this, 65% of the top 100 wallets retain their holdings, signaling long-term confidence. Notably, 78% of these addresses are classified as 'smart money,' suggesting strategic positioning rather than outright bearishness.