The Kenyan Parliament has passed the Virtual Asset and Security Regulatory Act (VASP) Bill. This legislation establishes a regulatory framework for virtual assets, marking a significant step towards addressing the growing industry in Kenya. The VASP grants the government authority to oversee digital assets, including cryptocurrencies and NFTs, aiming to protect consumers and promote financial stability. It includes provisions for licensing, anti-money laundering measures, and investor protection. The law anticipates increased regulation for digital assets, aligning with international standards.
Credits: AllAfrica News: Latest
