Hello!, As always, It is @akomoajong with information related to Cryptocurrency and Blockchain adoption across Africa. Hope you are having a great day from wherever you may be reading this post. Today, we heard to Kenya where their Treasury has been given two weeks to decide if Cryptocurrencies will be regulated in the Country or not.

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For a long time now, Kenyans have been allowed to trade Cryptocurrencies despite not been under any regulations or having the necessary licenses or taxation notes from the Treasury. Also, there is currently a bitcoin ATM existing in Kenya.

The Finance and National Planning Committee questioned Henry Rotich, the Treasury Secretary about why the Treasury and Central Bank of Kenya (CBK) could let individuals venture in to digital currencies without being taxed and licensed to operate.

Henry Rotich defended himself by saying:

I’m not aware of people operating locally but I’ll endeavour to find out whether we have a local exchangers. The issue of Cryptocurrencies is evolving and we can take a position as a country. This is a delicate balance between supporting innovation and killing it.

Kenyan parliament has given Henry Rotich just two weeks to decide on whether or not Cryptocurrencies will be regulated in the country.

For further reading on this issue, check out:

1. https://www.chepicap.com/en/news/1908/.html

2. https://news.bitcoin.com/kenya-crypto-regulation/

You can also visit my blog and check out more interesting articles.

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