Kenya’s Parliament Passes Landmark VASP Bill to Legalize Digital Assets
Kenya has taken a decisive step toward crypto regulation with the parliamentary passage of the VIRTUAL Asset Service Providers (VASP) Bill. The legislation now awaits presidential assent to establish the nation's first comprehensive legal framework for digital assets.
The bifurcated regulatory approach assigns oversight to two key institutions: the Central Bank of Kenya will license stablecoins and virtual assets, while the Capital Markets Authority will supervise exchanges and trading platforms. "This structure balances safety with innovation," remarked Kuria Kimani, chair of the National Assembly's finance committee.
Market observers anticipate the move will unlock significant growth potential in Kenya's crypto sector, which has previously operated under regulatory ambiguity. The framework aims to attract global investment while implementing necessary consumer protections.
