Overview
- The Central Bank of Kenya and the Capital Markets Authority issued a joint notice stating they have not licensed any virtual asset service provider under the new law.
- Orange “Bankless Bitcoin” kiosks now operate in malls such as Two Rivers, Westlands and along Ngong Road, offering cash-to-Bitcoin transactions beside traditional bank machines.
- Officials said licensing will begin only after the National Treasury publishes implementing regulations, and firms claiming authorization are doing so without approval.
- The Virtual Assets Service Providers Act, effective 4 November, assigns CBK oversight of payments and custody and gives CMA responsibility for trading and investment activities with AML/CFT obligations.
- The retail rollout follows years of grassroots crypto use in areas like Kibera, including Afrobit Africa’s 2022 Bitcoin grants, with public trackers currently listing two ATMs in Kenya.