Binance and the Virtual Assets Chamber (VAC) have endorsed progress in Kenya’s digital asset regulation while advocating for tax reforms to stimulate innovation during a press briefing in Nairobi.

• June 11 marks the day the organizations applauded the Virtual Asset Service Provider (VASP) Bill.
• Larry Cooke, Head of Legal for Africa at Binance, and Allan Kakai, Director of VAC, are pivotal figures in this announcement.
• They emphasized that balanced tax policies are essential for positioning Kenya as Africa’s crypto hub and noted, “Kenya can lead the continent with smart, enabling policies.”

Pesapal has partnered with RACK to provide a digital point-of-sale solution for small and medium sized enterprises across Kenya, Uganda, and Tanzania, aiming to streamline their sales, inventory, and payment processes.

• Over 80 percent of the 30 million SMEs in East Africa operate informally with outdated tools.
• Agosta Liko, CEO of Pesapal, emphasized the partnership addresses critical challenges for businesses in the region.
• The RACK POS system will enable SMEs to create verified digital records, unlocking access to credit and enhancing operational efficiency.