Kenya Plans To Legalize Cryptocurrency, Marking Policy Shift

According to BlockBeats, on January 10, Kenya's Cabinet Secretary for the Treasury, John Mbadi, announced that the country is preparing legislation to legalize cryptocurrency, signaling a significant shift in government policy. Currently, the use of cryptocurrency is prohibited in Kenya, but it is still widely used underground by the public to circumvent restrictions. In a statement outlining the new policy, Mbadi noted, "The emergence and development of virtual assets and virtual asset service providers have introduced innovation to both local and international financial systems, presenting dynamic opportunities and challenges."