We could be headed to an era of crypto over-regulation in Kenya.

But this won't stop anyone. When something becomes difficult to get, people want it more.
I don't think they are ready for what's coming.
Virtual Asset Payment Processors are required to have Ksh 50M in paid-up capital before serving a single user.
For exchanges its Ksh 150M. Sitting locked up. Before they even get one customer.
And that's before the Ksh 2M annual license fee, cybersecurity audits, a compliance officer, three board directors, and annual audited accounts.
In the latest update in hlthe 2026 finance bill, KRA also requires them to submit user identities and transaction records.
Regulation protects users. Nobody is arguing against that.
But when the entry bar is this high, it looks like a form of discouraging and chasing an innovation away.
Nigeria banned crypto in 2021 and P2P volumes exploded immediately to All Time High numbers.
Kenya should study that before going too far.