The Kenyan Senate’s committee on information and technology argues that the establishment of a crypto policy will see Kenya enjoy the benefits of innovation. regulation
The Kenyan Senate’s Information, Communication and Technology committee has said it is ready to engage the Central Bank of Kenya and other stakeholders in shaping the country’s policy towards crypto assets and virtual asset service providers. According to the committee, such a policy helps govern the use of crypto assets in the country “to ensure Kenya harnesses the benefits of financial innovation while minimizing the risks.
“While considering the response received from the CBK regarding the Committee’s inquiry on digital assets infrastructure in Kenya at Parliament Buildings, the Members of the Cmte emphasized the need to have a laid down policy that governs the Central Bank Digital Currency and crypto assets in the country to ensure Kenya harnesses the benefits of financial innovation while minimizing the risks,” the Senate tweeted.
As explained in the JFSRF’s joint communique issued on Dec. 16, 2022, the recommendations “will be subsequent to wide consultations and deliberations across the financial sector and other relevant stakeholders.”
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