Kenya’s Central Bank Says It May Not Be A Strong Priority To Launch A Central Bank Digital Currency CBDC.
The Central Bank of Kenya in a press release titled “Issuance of Discussion Paper on Central Bank Digital Currency: Comments” noted that the Public received comments on a discussion paper on the potential issuance of a digital shilling, haven’t reached…
Kenya To Tax Crypto Influencers, Promoters In New Tax Policy.
Kenya plans to charge a 3% tax on the transfer or exchange value of digital assets, while content creators will pay 15% on online earnings up from 5% withholding income tax, the new bill imposes a tax on earnings made…
Kenya Starts The Use Of QR Codes Called The Kenya Quick Response Code For Digital Payments.
The Central Bank of Kenya (CBK) on Wednesday, announced the issuance and implementation of the Kenya Quick Response Code Standard 2023 (KE-QR Code Standard 2023; or the Standard). The Standard will guide how Payment Service Providers and banks (institutions) that…
Kenya Set To Tax Cryptocurrency Exchanges.
Report from a Kenyan local news outfit revealed that the Kenyan Treasury will start levying taxes on revenues earned by cryptocurrency exchanges used by an estimated 4 million Kenyans. According to a report by Business Daily Africa, Kenyan authorities will…
Application Is Open For Visa Everywhere 2023 Initiative For Kenyans.
Global card payments firm Visa has opened applications for the 2023 edition of the Visa Everywhere Initiative (VEI). The global open innovation competition will see startups pitch their innovative solutions to solve tomorrow’s payment and commerce challenges for a chance…
Kenya Set To Remove Digital Service Tax.
Kenya’s government will move toward repealing its digital services tax (DST) following talks with businesses, President William Ruto said at a business conference in the country DST, as the name suggests, only applies to services which are provided through digital…
Kenya Crypto Asset Bill To Encompass Securities Trading.
Kenya’s bill seeking to put blockchain and crypto assets under the purview of the Kenyan Capital Markets Authority will be debated in the country’s parliament. The bill also seeks to “widen the meaning of ‘securities’ to capture digital currencies.” The…
Kenyans Put An Average of Sh 2000 in cryptocurrencies
Retail crypto traders in Kenya held cryptocurrencies worth an average of Sh2,076 ($16.08) each last year, ranking at the bottom of allocation to the alternative assets ahead of Nigeria. The 2023 digital global overview report by Meltwater, an online media…
Nigeria Missing As Kenya, South Africa Leads In Global Innovation Index Report 2022.
Mauritius, South Africa, Botswana, Kenya and Morocco, in latest inovative economies global report, ranked far above Nigeria in Africa as countries with the most innovative economies. This is according to the World Intellectual Property Organisation’s (WIPO’s) Global Innovation Index (GII)…
Kenya Moves To Legalise Crypto.
Kenya’s Senators move to legalise various virtual monies, such as cryptocurrencies, received a major boost after the Senate resolved to develop frameworks for their operation in the country. The Senate Standing Committee on Information, Communication and Technology on Thursday, February…