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If you're a Kenyan daily crypto user, these are some of the VASP provisions you nerd to be aware of:
➜Licensed platforms won't be allowed to promise you returns. The " earn 10% monthly" guys will be operating illegally the moment the act goes live.
➜For crypto educators, it's now more strict. You must not promise returns or mislead your users.
➜If you run educative spaces and seminars or you create videos, the law regards that as a form of advertisements, so the rules of crypto advertisements applly to you as well.
➜Your transaction history gets stored for 7 years, and KRA or any relevant authority will be able to request it at any time.
➜Your funds must be kept separate from company funds at all times. ( to protect you from a potential 'FTX.')
➜For advertisements, every person promoting or advertising a crypto product must disclose they are being paid.
➜Fine of up to Ksh 3 million or 2 years imprisonment on failure to disclose piad crypto advertisements.
The other part you need to know is that most of these only apply to kenyan licensed platforms.
All will depend on whether the platforms we have around comply to tue act by November 2026.
Stay sharp.