Kenyans with crypto have to provide information to local markets authorities thanks to this amendment.
An amendment was introduced to the Kenyan law in capital markets on Nov.
21 that would require those who own or deal in cryptocurrencies to provide the country’s Capital Markets Authority with information on their activities for tax purposes, local mediaUnder the Capital Markets Bill, Kenyans would pay capital gains taxes to the Kenyan Revenue Authority when they sell or use digital currencies. Cryptocurrency held for less than a year would be subject to income tax, while after that capital gains tax would apply. Kenya has an income tax that ranges from 10% to 30%.
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