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Kenya Signals Green Light for Crypto Legalization

  • 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.

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