Over the last two years, the Kenyan government and central bank have been discussing how to regulate bitcoin and other digital currencies. In March 2018, the Central Bank of Kenya warned the general public about cryptocurrency investments. After those warnings, the region’s Capital Markets Authority (CMA) cautioned the public again after investigating a project called kenicoin. Even though financial regulators are dressing down digital currencies, Kenyan merchants and traders in the region are still flocking toward the crypto asset economy.
Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval
Kenyan Crypto Trade Volumes Show Increased Demand for Digital Assets
The government in Kenya and the financial regulators have been leery toward regulating bitcoin and other digital currencies. The