Kenya’s Crypto Licence Rules Target Long-Term Operators Instead of Speculators
- The VASP Regulations emphasize that a virtual asset license is meant for building and operating a business, not for speculative trading.
- Successful applicants must begin operations within 12 months of receiving their license to avoid losing it.
- Licenses cannot be transferred without the licensee demonstrating operational readiness and compliance for at least three years.
The VASP Regulations represent a significant shift in Kenya's approach to digital assets, prioritizing operational integrity over speculative practices. This could lead to a more stable and trustworthy market, but the effectiveness of these regulations will largely depend on the commitment of regulators to enforce them consistently and transparently.
