Regulator: Central Bank of Kenya (CBK), Capital Markets Authority (CMA)
Kenya’s Virtual Asset Service Providers Act, 2025 (in force since Nov 2025) and the Virtual Asset Service Providers Regulations, 2026 (Legal Notice 134 of 2026, gazetted 22 July 2026) establish a live dual-regulator framework. CBK licenses stablecoin issuers under strict capital (KES 300 m paid-up), 1:1 HQLA reserves (min. 30% in Kenyan banks), white-paper, redemption, stress-test and interest-ban rules. CMA oversees exchanges. Rules have extraterritorial reach.
Applicable Laws:
Virtual Asset Service Providers Act, 2025 (No. 20 of 2025) - https://new.kenyalaw.org/akn/ke/act/2025/20/eng@2025-11-04
Virtual Asset Service Providers Regulations, 2026 (Legal Notice No. 134 of 2026) - https://new.kenyalaw.org/akn/ke/act/ln/2026/134/eng@2025-07-22
