Kenyan parliamentary committee approves bill that would expand definition of securities to include cryptocurrencies

A Kenyan parliamentary committee has approved a bill proposing to expand the definition of securities to include cryptocurrencies. The bill proposes taxing cryptocurrency exchanges and digital wallets, as well as imposing a capital gains tax on users who make capital gains from selling crypto assets. The bill, sponsored by Mosop Member of Parliament Abraham Kirwa, will now be tabled for second reading in the Kenyan National Assembly. Lawmakers are expected to debate and make further changes at the third reading stage. Once the bill, known as the Capital Markets (Amendment) Bill 2023, is approved, it will be sent to the President of Kenya for his assent. (Bitcoin.com)