Kenya is preparing to legalize cryptocurrencies with plans for a new draft policy aimed at regulating virtual assets and service providers in 2025.
The government aims to create a balanced legal and regulatory framework to harness the benefits of cryptocurrencies while managing associated risks.
Historically skeptical about digital currencies, Kenya's shift in stance towards cryptocurrencies is driven by growing interest, market volatility, and global trends.
Kenya's pro-cryptocurrency approach is seen as a strategic move to enhance financial inclusion, reduce transaction costs, and stay competitive within Africa.