CBK: Licensing of crypto service providers to begin after new regulations are issued
The Central Bank of Kenya says licensing of Virtual Asset Service Providers will start once new regulations under the Virtual Assets Service Providers Act, 2025 are released. No VASPs have been licensed yet as Treasury develops implementing rules...
✨ Key Highlights
The Central Bank of Kenya (CBK) announced that the licensing of Virtual Asset Service Providers (VASPs) will commence only after new regulations under the Virtual Assets Service Providers Act, 2025 are issued. This clarification follows the act's gazetting on October 21 and effectiveness from November 4, bringing Kenya's digital asset market under statutory regulation.
- CBK and the Capital Markets Authority (CMA) confirmed they have not yet licensed any VASPs in or from Kenya under the new law.
- The National Treasury is currently developing detailed implementing regulations for licensing, supervision, risk controls, and compliance.
- The new law designates CBK and CMA as joint regulators and introduces stringent anti-money laundering, governance, reporting, and consumer protection obligations.
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CAK Clears Takeover, MCB Leads $400mn Facility, and CBK Prepares for Crypto Licensing - November 2025
The Competition Authority of Kenya (CAK) has approved the acquisition of Mace Consult Holdings Limited by Consult Bidco Limited. The authority stated the deal complies with merger regulations and will not negatively impact competition. In the financial sector, Mauritius Commercial Bank (MCB) has successfully arranged and closed a $400 million syndicated facility for Sea World Energy Holdings Limited, consolidating Karpowership Group's operations across Africa. Meanwhile, the Central Bank of Kenya (CBK) announced that the licensing of Virtual Asset Service Providers (VASPs) will begin only after new regulations under the Virtual Assets Service Providers Act, 2025 are issued. This follows the act's gazetting on October 21, which brings Kenya's digital asset market under statutory regulation.
