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Kenya completes public consultation on draft regulations for virtual asset service providers
ME News Report, April 12 (UTC+8), Kenya’s Ministry of Finance announced the completion of the public consultation process for the Draft Regulations on Virtual Asset Service Providers (VASP) for 2026.
The regulation will officially bring the 2025 VASP Act into operational phase, establishing a legal framework covering licensing, anti-money laundering/combating the financing of terrorism (AML/CFT), customer asset segregation, and market surveillance, and introducing minimum capital requirements, cybersecurity audits, and mandatory insurance.
Next, the Ministry will compile stakeholder suggestions and finalize the detailed rules.
It is reported that Kenya has been one of the countries with the highest cryptocurrency adoption rates globally, and this legislation aims to balance financial innovation with consumer protection.
(Source: MLion)