Crypto leaders say Kenya is on the right path, but tax clarity and education will shape the next phase.
At a media briefing in Nairobi, Binance and the Virtual Assets Chamber (VAC) backed Kenya’s Virtual Asset Service Providers (VASP) Bill as a strong foundation for digital asset regulation. But they warned that progress could stall without a supportive tax policy and wider public understanding.
Larry Cooke, Binance Africa’s Head of Legal, said the Bill is promising but needs a better tax model.
“We’re working with policymakers to shape regulation that fits Africa,” said Cooke. “The Bill is a step forward, but the current tax framework risks slowing progress. We’ve suggested a model that supports growth and protects everyday users.”
Allan Kakai, Director at VAC, noted the shift in attitude from regulators, but pointed to the need for more collaboration.
“Two years ago, there were no crypto rules. Now, there’s a draft law, dialogue with Parliament, and a willingness from the Central Bank and CMA to engage,” said Kakai. “That’s real progress, but we’re not there yet.”
Binance also stressed that technical knowledge is just as important as policy. Its Academy is offering free certified training to bridge skills gaps.
“Some members of the VASP task force earned certifications from our platform,” Cooke added. “We’re building a workforce that understands this economy.”
Education goes beyond consumers. Kakai highlighted the need to train lawyers, accountants and police officers.
“Imagine reporting crypto fraud to an officer who’s never heard of Bitcoin,” he said. “That’s the gap we’re trying to close.”
With the Bill still under review, both speakers said the outcome could have wider implications.
“If Kenya gets this right, it won’t just shape its own crypto market,” said Kakai. “It could set the standard across Africa.”
