Kenya's parliament has asked the Blockchain Association of Kenya (BAK) to draft the Virtual Asset Service Provider’s Bill, known as the Crypto Bill. This follows BAK's opposition to the Digital Asset Tax in Kenya’s Finance Act, 2023. Kenya has seen nearly $20 billion in crypto transactions between July 2021 and June 2022, ranking third in Africa for crypto site traffic. BAK, along with other stakeholders, presented recommendations for a comprehensive regulatory framework. The parliamentary committee directed BAK to draft the bill, marking a unique step in cryptocurrency regulation.
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