Kenyan Lawmakers Propose Including Crypto Assets in Securities Definition
Kenyan Capital Markets Authority to Regulate Blockchain and Cryptocurrencies
A new bill is set to be debated in the Kenyan parliament that proposes to bring blockchain technology and digital currencies under the purview of the Kenyan Capital Markets Authority (CMA). The bill is also looking to broaden the meaning of “securities” to include digital currencies. According to Amboko Julians, a Kenyan economist and blogger, individuals who want to introduce a new cryptocurrency must first obtain a license from the capital markets regulator. The bill also requires recipients of digital currency trading licenses to register with the CMA and maintain records of all digital currency transactions. If passed, digital currency traders will be required to apply for a license from the CMA within six months.
Clever Robot News Desk 5th April 2023