Kenya moves to regulate crypto market amid scams, money laundering
- The Kenyan government forms a multi-agency technical working group to regulate the cryptocurrency market.
- Kenya plans to receive 3% of the revenue generated by citizens trading digital assets.
- Kenya is the largest cryptocurrency market in East Africa.
The formation of a regulatory working group by the Kenyan government shows a positive step towards managing and monitoring the cryptocurrency market. By implementing regulations, the government aims to address risks such as money laundering, terrorism financing, and consumer protection. This move is crucial for the development and stability of the digital asset industry in Kenya.
