Kenya Finalises Crypto Licensing Rules for Exchanges and Digital Asset Firms

The framework applies not only to companies physically based in Kenya but also to firms that serve Kenyan customers, actively target local consumers, or derive economic benefit from the country, regardless of whether they maintain a presence there. Licensed firms must meet governance and capital requirements, implement anti-money laundering and cybersecurity controls, safeguard customer assets, and comply with ongoing reporting and consumer protection obligations.

BitKE reported that the rules run to 116 pages and extend beyond exchange licensing to cover stablecoin issuers, tokenized real-world assets, initial coin offerings, advertising and market conduct. Applicants must disclose directors, beneficial owners, source of funds, governance structures, cybersecurity policies, AML procedures and business continuity plans, and undergo independent information systems audits including penetration testing. Foreign-owned firms must also disclose cross-border operations and their regulatory status in other jurisdictions. Regulators are required to decide on complete applications within 30 days of finishing due diligence.

According to blockchain analytics firm Chainalysis, Kenya recorded about $19 billion in crypto inflows between July 2024 and June 2025, ranking second in East Africa by transaction value, behind Ethiopia.

South Korea's largest lender will roll out an on-chain payment service for trade companies next month, using JPMorgan's Kinexys network to speed up dollar transfers across 10 countries.