IMF recommends Kenya require crypto platforms to share customer information and implement the travel rule

Odaily reports: In a technical assistance report released on November 6, the International Monetary Fund (IMF) recommended that Kenya require crypto platforms to collect, verify, and transmit the identity information of remitters and recipients in regulated transfers, including names, account information, addresses, ID numbers, and wallet information, in order to implement the "travel rule." The IMF stated that Kenya has significant gaps in the requirements for international information sharing in crypto transactions and recommended that the relevant obligations be incorporated into virtual asset service provider regulations or other appropriate legal instruments as soon as possible. Kenya's Virtual Asset Service Providers Act took effect in November 2025 and is regulated by the Central Bank of Kenya and the Capital Markets Authority within their respective sectors.