The National Treasury and Economic Planning, has unveiled a draft National Policy on Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs), alongside the Virtual Assets Service Providers Bill, 2024. This policy and legislative proposal aim to establish a robust framework for the oversight and development of Kenya’s virtual assets ecosystem.
The Treasury has invited citizens to share their views on the documents, with feedback to be submitted via email by January 24, 2025. “The Policy and the Bill provide a framework for oversight and development of the Virtual Assets ecosystem,” the Treasury stated.
The drafts are accessible on the National Treasury’s website, and in addition, public participation forums will be conducted across the country. The forums are scheduled to run from January 20 to January 29, 2025, targeting various counties including Nairobi, Mombasa, Kisumu, and Nyeri.
In a public notice, Treasury Cabinet Secretary John Mbadi Ng’ong’o emphasized the significance of public input. “Members of the public are invited to come and give their views on the two documents,” he noted, underlining the government’s commitment to inclusivity and transparency.
The draft policy is expected to guide the regulation of virtual assets like cryptocurrencies and their associated service providers in a sector characterized by rapid growth and technological innovation. The move aligns with global efforts to regulate digital financial assets while fostering innovation.
Public forums will cover a wide range of counties, with notable sessions in Mombasa (January 20), Kisumu (January 23), and Nairobi (January 29).
