BlockBeats News, October 14th. According to Reuters, the Kenyan Parliament has passed the “Virtual Asset Service Providers Act,” aimed at providing a regulatory framework for the digital asset industry, attracting investment, and standardizing transaction behavior. This act authorizes the central bank to license the issuance of stablecoins and other virtual assets, with the capital markets regulator responsible for licensing crypto exchanges and platforms. The government hopes to attract investment from international platforms such as Binance and Coinbase and transform Kenya into the African crypto finance hub.
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