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Business Daily reporting that The Kenyan Treasury has cut the proposed minimum capital for crypto firms by 40%.
They also saying that crypto operators are now required a paid up capital of Sh300 Million instead of the previous Sh 500?
Someone explain this cos the 500M mentioned in the VASP was for Stablecoin Issuers.
From the bill, the rates are as follows.
Exchanges are required to pay up Ksh 150M plus Ksh 2M license fee to operatehere.
Wallet Providers: Ksh 150M paid-up capital plus Ksh 500K license fee.
Payment Processor: Ksh 50M paid-up capital plus Ksh 200K license fee.
So does the 40% slash cut along all of them or it's just the stablecoin issuance?
WhatsApp exactly did the Treasury CS say?