Kenya’s government is implementing strict regulations that could stifle the country’s crypto innovation and industry growth.Highlights💔 The Kenyan government is introducing laws that could kill the crypto industry.

The new regulations will require all crypto assets to be held by custodians approved by the Capital Markets Authority (CMA).📉 This move could hinder the growth of the crypto sector by limiting accessibility and innovation.

The CMA is also proposing to impose high capital requirements on crypto businesses, potentially driving them out of the market.🌍 Kenya has been a hub for crypto innovation, with startups offering solutions for remittances and financial inclusion.

The government’s crackdown on crypto is aimed at curbing money laundering and protecting investors. However, critics argue that the regulations are excessive and will stifle the country’s potential for economic growth and technological advancement.

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