On October 14th, it was reported that Kenyan lawmakers approved the Virtual Asset Service Providers Bill aiming to create clearer regulations for the crypto sector.
The bill allows the central bank to oversee stablecoin issuance and establishes a licensing framework for cryptocurrency exchanges to enhance operational clarity for investors.
This legal clarity is anticipated to draw investments from fintech sectors, specifically targeting exchanges like Binance and Coinbase, using regulations based on practices from the US and UK.
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