from MARIA MACHARIA in Nairobi, Kenya
Kenya Bureau
NAIROBI, (CAJ News) – KENYA is launching a policy aiming to regulate virtual assets like crypto currencies and blockchain technology.
This is under the aegis of the Draft Policy on Virtual Assets and Virtual Asset Service Providers (VASPs), which the government also believes would safeguard the East African country’s financial system.
The National Treasury is spearheading the drive and has invited citizens to offer their input.
Government added that the policy aimed to regulate virtual assets like crypto currencies and blockchain, driving innovation.
“Virtual assets are key to advancing Kenya’s digital economy by fostering financial inclusion, boosting e-commerce, and attracting investment,” said John Tanui, the Principal Secretary – State Department for ICT and Digital Economy.
Tanui said proper regulation would unlock opportunities for businesses, create jobs in blockchain and cyber security and position Kenya as a leader in digital finance.
“Industry players in the digital space are crucial to shaping this framework,” he added.
The country of 57 million people, Kenya is one of the largest economies in East Africa and is hailed as a pioneer in the adoption of technology in the continent.
– CAJ News