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Wu said that the Kenyan Ministry of Finance officially announced that the public consultation process for the "2026 Virtual Asset Service Provider (VASP) Regulatory Regulations Draft" has been completed.
The regulation will formally bring the "2025 VASP Act" into the operational phase, establishing a legal framework covering licensing, AML/CFT, customer asset segregation, and market surveillance, and introducing minimum capital requirements, cybersecurity audits, and mandatory insurance requirements.
Next, the Ministry of Finance will compile feedback from stakeholders and finalize the details.
It is reported that Kenya has been one of the countries with the highest cryptocurrency adoption rates worldwide. This legislation aims to balance financial innovation with consumer protection.