Blockchain Players Warn New Rules Could Favour Foreign Giants
NAIROBI, Kenya, May 18 – Industry players in Kenya’s blockchain and fintech sectors have warned that proposed taxes and high licensing requirements under Kenya breaking news | Kenya news today |..
✨ Key Highlights
Kenyan blockchain and fintech industry players are concerned that proposed regulations and taxes in the Finance Bill 2026 and draft VASP Regulations might favour large foreign companies over local startups.
- Industry leaders warn that high capital requirements and unclear tax structures could disadvantage Kenyan startups.
- Key figures like Felix Macharia (CEO of Kotani) and Kevin Kigima of Yogupay voiced these concerns at the Kenya Blockchain and Crypto Conference in Nairobi.
- Proposed measures include stricter reporting to the Kenya Revenue Authority (KRA), new licensing and compliance requirements, and potential VAT on merchant services, which could increase costs for consumers and stifle innovation.
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