Kenya Advances Digital Asset Regulation with New Legislation

According to Foresight News, the Kenyan Parliament has approved the Virtual Asset Service Providers Bill, aiming to establish a clear regulatory framework to encourage investment in the digital asset industry. The bill designates the Central Bank of Kenya as the licensing authority for stablecoins and other virtual asset issuances. Additionally, the Capital Markets Authority will be responsible for issuing licenses to cryptocurrency exchanges and other trading platform operators. The bill now awaits the signature of President William Ruto to become law.