Sharp Daily
No Result
View All Result
Wednesday, October 8, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya’s Crypto Market Marches to Its Own Beat

Joel Mugonyi by Joel Mugonyi
June 6, 2023
in News
Reading Time: 2 mins read

In Kenya, cryptocurrency has gained some popularity and interest in recent years. The government and financial regulators have recognized the potential benefits of blockchain technology and digital currencies, but they have also expressed caution due to the associated risks, such as fraud, laundering, and consumer protection issues.

The Kenyan government has shown interest in utilizing blockchain technology to improve various sectors, such as land registries, supply chain management, and financial services. Blockchain-based solutions are being explored to enhance transparency, efficiency, and security in these areas.

Read more: Twitter Founder Jack Dorsey In Nairobi After Investing Ksh245M In A Kenyan Crypto Company

Currently, there is a bill in the national assembly that seeks to classify cryptocurrencies as capital market products, thereby subjecting them to the same regulations as securities and stock markets. If the bill is amended, the crypto exchanges will be registered with the Capital Markets Authority. Not only will gains on sales of cryptocurrency be taxed, but also their advertisements on mainstream media will be banned. Kenya is the only country within the region that has taken reasonable steps towards introducing regulations for this sector.

RELATEDPOSTS

How public ratings could shift healthcare dynamics in Kenya

September 4, 2025

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 2025

In a policy paper last June, the United Nations Conference on Trade and Development advised developing nations to consider the following:

  1. Mandatory registration of crypto exchanges and wallets
  2. Bann their advertisement in public spaces and media.
  3. Creation of Central Bank Digital Currencies.

Kenya is among the 40 countries that are already researching the creation of Central Bank Digital Currencies (CBDC) in efforts to deal with the menaces of cryptocurrencies to their monetary sovereignty. Global coordination may require countries to develop an agreement or harmonize policy and regulatory frameworks.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Qatar Airways to Scrap First Class seats

Next Post

Stanbic Survey Shows Record Rise in Purchase Costs in May 2023

Joel Mugonyi

Joel Mugonyi

Related Posts

News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025

LATEST STORIES

The economic and environmental gains of Kenya’s LPG shift

October 8, 2025

Equities, Bonds, or Fixed Deposits?

October 7, 2025

Kenya’s Inflation is creeping up, What it means for investors

October 7, 2025

The Role of Micro-Pensions Plans in Kenya

October 3, 2025

Understanding the link between international aid and cooperative finance stability in Sub-Saharan Africa

October 3, 2025

Kenya Pipeline Company IPO

October 3, 2025

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025

Kenya’s Regulated SACCOs Cross Trillion Shilling Mark

October 2, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024