Kenya Passes Bill to Regulate Crypto as Regional Momentum Grows

Kenya's parliament has enacted the Virtual Asset Service Providers Bill 2025, marking a significant step toward formalizing cryptocurrency regulation in the country. The legislation designates the Central Bank of Kenya and the Capital Markets Authority as the primary regulatory bodies overseeing brokers, investment advisors, and other crypto service providers.

"We are hoping Kenya can now be the gateway into Africa," said finance committee chairman Kuria Kimani, highlighting the growing adoption among young Kenyans using digital assets for trading, payments, and investments. Sub-Saharan Africa already ranks third in global crypto adoption, with Kenya positioned as the fourth-largest African market by transaction volume.

The bill now awaits presidential approval to establish a framework addressing operational standards and potential misuse in the industry. This development coincides with Chainalysis data showing robust grassroots cryptocurrency adoption across the region.