Since my CNBC interview, I’ve had a flood of DMs asking about Kenya’s new VASP Bill — so here’s my take:
👉 All crypto players — exchanges, wallets, brokers, token issuers — now must be licensed, meet strict KYC/AML, capital, and cybersecurity standards, and operate under CBK/CMA oversight.
👉 Non-compliance = heavy fines or even jail.
👉 It also opens up new tax revenue from an industry that was previously off-the-books.
💡 My view: This isn’t just policy — it’s Kenya bringing digital assets into the heart of its economy. Expect new jobs in compliance, security, and fintech, plus fresh institutional capital that was waiting for legal clarity. Singapore saw 700 Web3 firms emerge post-licensing. South Korea’s regulated sector grew 15% in a year. Both saw tax revenues surge.
⚠️ But over-regulation is a double-edged sword. If costs spiral, startups will go offshore and innovation slows. The challenge now: protect users, formalize the market, and still leave space for bold builders. Done right, this could make Nairobi the true financial hub of Africa.