A top government official said that Kenya is working on a new rule that will let people use cryptocurrencies.
John Mbadi, who is the Treasury Cabinet Secretary under President William Ruto, said that this move is part of Kenya’s plan to stay a leader in Africa when it comes to new financial ideas.
Kenya’s view on cryptocurrencies has changed a lot because of this. The previous government was very against them because they were worried about scams, money laundering, and giving money to terrorists. Fears like these made people not trust coins.
Many Kenyans have kept using cryptocurrency despite these warnings. Kenyans are becoming more interested in digital currencies, according to studies. Also, crypto traders have already paid $77 million in taxes to the government, which shows that the industry could become a good way for the country to make money.
This change in policy shows a new way of thinking about cryptocurrencies. Kenya wants to use the technology while staying on the cutting edge of financial innovation.
