Blockchain Association of Kenya (BAK) unveiled Kenya’s first Virtual Assets Service Provider (VASP) draft Bill, a milestone in regulating the country’s digital asset industry. This comprehensive bill addresses consumer protection, licensing, anti-money laundering measures, and more, marking a significant step towards establishing Kenya as a digital asset hub.
BAK invites stakeholders worldwide to provide feedback by February 7th, showcasing their commitment to fostering collaboration and innovation in the blockchain ecosystem.
With the potential to unlock foreign direct investments and drive economic recovery, the draft bill positions Kenya as a leader in embracing digital assets. By addressing regulatory challenges and promoting business innovation, BAK aims to propel Kenya towards achieving its economic goals outlined in the medium-term plan.
This initiative highlights the transformative impact of digital assets on sectors like agriculture and MSMEs, underscoring Kenya’s vision for sustainable growth and development in the digital era.
