Kenya will require providers of virtual assets to set up local offices as authorities in the East African nation seek a firmer grip on the fast-growing industry.
The proposed policy excludes assets that can’t be transfered, exchanged or traded outside a closed ecosytem, or used for payments or investment, according to a draft law on the National Treasury’s website.
“The policy seeks to close the gaps in the absence of a legal and regulatory framework for virtual assets and virtual asset service providers in the country, as well as consumer protection, governance, data privacy, and cyber security challenges in the ...