*Dear Listers*, I agree that there's lack of a coherent policy but would also like to point out some of the strides made in the past few months: 1. During the Digital Asset Policy Safari, we had conversations with various stakeholders including representatives from KRA & CBK. On this particular note, stakeholders raised concerns with CBK about their attitude towards digital assets (the representative was from the Risk & Fraud Department) and advocated for change on their cautious approach to an inclusive one. Notably, CBK had previously sought comments on Kenya having its CBDC and upon receiving feedback from the Web3 community coupled with its research, deemed it fit not to have one. This decision was welcomed by the community. 2. The Finance and National Planning Committee engaged the Blockchain Association of Kenya and tasked it with drafting a Bill regulating virtual asset service providers. We contributed and shared our feedback with BAK. 3. The Capital Markets Authority accepted 2 Blockchain-based companies into their Regulatory Sandbox. The community appreciates the recent changes in attitude and continues to advocate for inclusivity by the various regulatory bodies with the aim of having a policy & laws that shall drive up investment in the country. Notably, some concerns were raised about having regulations that are mere "shells" which inhibit innovation. *Kind regards,* *Evelyn W. Mwangi*. On Wed, Aug 7, 2024, 23:49 David Indeje via KICTANet < kictanet@lists.kictanet.or.ke> wrote:
Dear Listers,
*Do you Agree?*
Kenya's government remains ambivalent towards blockchain and cryptocurrencies despite growing public interest and economic activity in the sector.
While the technology has garnered significant attention and investment, with Kenya emerging as a regional cryptocurrency hub, the government's stance remains unclear.
A recent parliamentary grilling of the incoming Treasury Cabinet Secretary highlighted the lack of a coherent policy framework. Despite the Kenya Revenue Authority's imposition of taxes on cryptocurrency transactions, the Central Bank maintains a cautious approach, echoing the government's overall indecision.
https://www.kictanet.or.ke/government-indifference-hampering-kenyas-crypto-l...
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