Jurisdiction reference
Kenya
Regulator: CMA / CBK. License/registration context: Unclear. 21 VASP/entity records are tracked by Plexo Institute in Kenya. Official registry source: CMA Kenya. Data last updated: 2026-09-24.
Virtual Asset Service Providers Bill 2025 passed October 13; dual regulatory structure: Central Bank of Kenya licenses stablecoin issuers; Capital Markets Authority licenses exchanges/trading platforms; projected 1M+ users by 2026; 1:1 backing expected for stablecoins; at-par redemption anticipated; strict AML/CFT compliance; client fund segregation required; aligns with US/UK regulatory models; aims to attract Binance/Coinbase; positioning Kenya as African crypto hub.
Regulatory Status
- Jurisdiction code
- KE
- Regulator
- CMA / CBK
- Governing law
- Capital Markets Act (amendment draft)
- Travel Rule
- In Progress
- Tracked entities
- 21
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- KES
Regulatory approach
CBK: Licenses stablecoin issuers, sets monetary policy aspects, ensures financial stability. CMA: Licenses and regulates exchanges, trading platforms, brokers; market conduct authority. Dual-regulator model with clear functional separation between issuer licensing (CBK) and market conduct (CMA); coordinated implementation expected.
Licensed entities in Kenya
Showing 7 of 21 regulated-entity records tracked in Kenya by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| Binance | Registered | Operating (No formal VASP license) |
| BitPesa | Licensed | Operating (No formal VASP license) |
| Kotani Pay | Registered | Operating (No formal VASP license) |
| Local Bitcoins / HodlHodl Kenya | Registered | Operating (No formal VASP license) |
| Paxful Kenya | Registered | Operating (No formal VASP license) |
| Pesabase | Registered | Operating (No formal VASP license) |
| Yellow Card Kenya | Registered | Operating (No formal VASP license) |
Browse all 21 records in the regulated-entity registry, including the remaining 14 in Kenya.
Stablecoin laws in Kenya
Primary legal texts Plexo Institute tracks for Kenya.
- Virtual Asset Service Provider Act 2025 (Enacted - Commencement is to be announced) (enacted 2025-10-15)
Provides general obligations of virtual asset service providers Licensing requirements for virtual asset service providers Appoints the Central Bank as the licensing authority for issuance of virtual assets Appoints Capital Market authority to license crypto exchanges and trading platforms.
Regulatory events in Kenya
Dated regulatory developments Plexo Institute tracks for Kenya, most recent first.
- To be announced - Commencement of the Virtual Asset Service Provider Act (2025-10-15 · Legislative)
- President signs the Virtual Asset Provider Act into law (2025-10-15 · Regulatory)
- Virtual Asset Service Provider Bill passes (2025-10-13 · Regulatory)
- The Kenyan Government releases the first draft of the Virtual Asset Service Provider Bill. (2024-12-01 · Legislative)
- The First reading of the Virtual Asset Service Provider Bill (2024-04-08 · Legislative)
- Amended Income Tax comesinto effect. (2021-01-01 · Regulatory)
The amendment introduces “digital service tax”
- Central Bank of Kenya releases Circular No. 14 (2015-12-18 · Regulatory)
Issues a warning to the public against using virtual currencies like Bitcoin due to absence of legal framework and volatility of the digital asset.
Relationship Graph
Jurisdiction FAQ
Who regulates Kenya?
The current Plexo Institute record lists CMA / CBK as the regulator for Kenya.
How many VASPs are tracked in Kenya?
21 VASP/entity records are tracked by Plexo Institute in Kenya.
What is the Travel Rule status in Kenya?
The current Plexo Institute record lists the Travel Rule status for Kenya as In Progress.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.