Kenyans to insure cryptocurrencies under proposed IRA regulations
NAIROBI, Kenya, Oct 22 - Kenyans holding virtual assets such as cryptocurrencies could soon insure them under new rules proposed by the Insurance Kenya breaking news | Kenya news today |..
✨ Key Highlights
Kenyans may soon be able to insure their cryptocurrencies and other virtual assets under new draft regulations proposed by the Insurance Regulatory Authority (IRA).
- The draft Insurance (Amendment) Regulations, 2025 aims to create a legal framework for insurers to cover digital assets.
- The IRA notes a current lack of regulations for emerging technologies like AI chatbots despite cybersecurity threats.
- This move signifies steps towards integrating crypto into Kenya's regulated financial system.
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Lawsuit Targets Mogo, Petition Challenges Cyber Law, and IRA Proposes Crypto Insurance Rules in Kenya - October 2025
Asset financing firm Mogo Auto Limited is facing a representative lawsuit over alleged predatory lending practices, including unfair loan terms and hidden charges, which claimants say have caused hardship for thousands. In a separate legal action, musician Reuben Kigame and the Kenya Human Rights Commission (KHRC) have petitioned the High Court to invalidate the new Computer Misuse and Cyber-crimes law. The law, signed by President William Ruto on October 15, 2025, is argued to grant the state excessive power to surveil and silence critics. Meanwhile, the Insurance Regulatory Authority (IRA) has proposed new draft regulations that would allow Kenyans to insure their cryptocurrencies and other virtual assets.
