Regulatory Alerts2025-01-01
Virtual Asset Service Providers Act, 2025
The Virtual Asset Service Providers Act, 2025, establishes a mandatory licensing and regulatory framework for businesses providing virtual asset services in or from Kenya under the oversight of the Capital Markets Authority and the Central Bank of Kenya. Licensees must adhere to strict operational, financial, and cybersecurity obligations, including robust anti-money laundering and counter-terrorism financing measures, with significant penalties for non-compliance. The Act also mandates comprehensive oversight of virtual asset offerings and provides for investigative powers to ensure market integrity and consumer protection.
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