Kenya passes virtual asset bill, plans to build Africa's crypto financial gateway

Odaily Planet Daily reported that the Kenyan Parliament has passed the Virtual Asset Service Providers Bill, which aims to establish a regulatory framework for the digital asset industry, attract investment and regulate market transactions.

The bill authorizes the Central Bank of Kenya to license the issuance of stablecoins and other virtual assets, while also placing the capital markets regulator in charge of licensing crypto exchanges and platforms. The government hopes to attract investment from international platforms like Binance and Coinbase, establishing Kenya as Africa's gateway to crypto finance. (Reuters)