Kenya’s parliament has recently passed the Virtual Asset Service Providers Bill, aiming to regulate digital assets like cryptocurrencies. This legislation designates the Central Bank to oversee stablecoins and virtual assets, while crypto exchanges and trading platforms will be regulated by the Capital Markets Authority. The move is expected to attract global investment platforms such as Binance and Coinbase, positioning Kenya as a potential digital finance hub in Africa.
UK’s Pro-Crypto Stance: Political Support for the Industry
At the Digital Asset Summit in London, Reform UK leader Nigel Farage declared himself a champion for the British crypto sector. He proposed creating a state-owned latest crypto regulation news bitcoin reserve with about £5bn worth of seized bitcoin and introducing a crypto bill to lower capital gains tax to a flat 10%. Farage also suggested allowing UK citizens to pay taxes using cryptocurrency, signaling a strong political push to support the industry.
US Crypto Regulation: A Shift Towards Clarity and Innovation
In the United States, the regulatory landscape for cryptocurrencies has undergone significant changes. President Trump signed the GENIUS Act into law, providing clearer guidelines for stablecoins and digital assets. Additionally, the Securities and Exchange Commission (SEC) and the New York Department of Financial Services (NYDFS) released new guidance on custody and blockchain analytics, aiming to enhance transparency and security in the crypto market