Quick Breakdown Tether surpasses 500 million users worldwide, covering about 6.25% of the global population. A new documentary showcases how Kenyans rely on USDT for daily transactions and business survival. Tether’s valuation talks could place the firm among the world’s most valuable private companies at $500 billion. Tether’s global ...
Quick Breakdown Kenya’s parliament has passed the Virtual Asset Service Providers Bill, creating the country’s first comprehensive legal framework for cryptocurrencies and virtual assets. The Central Bank of Kenya (CBK) will license stablecoins and other digital assets, while the Capital Markets Authority (CMA) will regulate exchanges and trading platforms. Lawmakers ...
Kenya’s High Court has issued a landmark order requiring the global deletion of biometric data collected by Worldcoin following a recent crackdown on biometric data practices in Indonesia. The court’s decision comes after months of public concern over how Worldcoin and similar projects handle sensitive personal information, particularly in developing ...
The International Monetary Fund (IMF) has released a technical assistance report urging Kenya to establish a transparent and stable regulatory framework for the cryptocurrency sector in response to a request from the Capital Markets Authority. To help safeguard consumers while addressing potential risks of Anti-Money Laundering (AML) and Countering the ...
Kenyan Authorities have asked its citizens to participate in shaping the country's policy toward cryptocurrencies and blockchain technology. The Financial Reporting Centre (FRC), on August 16, 2023, announced that all Kenyans are invited to participate in a public survey on virtual assets and virtual assets service providers. The FRC, a ...
The Kenyan government has taken decisive action by suspending the Worldcoin project over fears of potential unauthorized collection and misuse of essential private data. According to a statement published on Facebook on August 2, 2023, the suspension will remain in effect until relevant public agencies have certified that there are ...
The Kenyan Government has proposed new taxation measures to boost the country's domestic revenues and reduce its fiscal deficit amidst a persisting financial crunch. The African country is targeting its digital economy with this proposed tax regime. The new regulation is expected to boost transparency and tax collection on cryptocurrency ...
