Is the Kenyan Government in fear of the growth of the Cryptocurrency space in Kenya??
We have reported on the news that broke on the 5th of august, when Crypto.com announced on their twitter that, the Kenyan shillings and South African Rand have been added to the currencies on their platform.
There have since been new regulations put in place by the Kenyan Revenue Authority (KRA) that obligates users of digital currency marketplaces in Kenya to pay a whopping 1.5% on gross transaction value. Reports state that this new tax law can be expected to be underway as early as the 1st of January of 2021. This information has been posted on their official twitter @KRACorporate
An article by CryptoGuru on Bitcoinke.io reported that the Kenyan Revenue Authority is working on a “special tax unit to track and tax transactions using data-driven detection”.
This could be bad news for Kenyan Crypto currency investors and traders, because it shows that the government understands how fast the growth of The crypto currency space is in Kenya at the moment, which also means they could speed up some form of Crypto regulation in the country perhaps as a form of minimal control and surveillance over transactions.
What does this mean for countries like South Africa, Nigeria, and Ghana who are the leading economies of Africa in the Crypto space?
Could this governments take a similar approach as the Kenyan government, and does this confirm that they now understand how huge this is as a stance against central banks?
Leave your comments and opinions!!
If you are interested in learning more about Cryptocurrency, Investing & Trading Cryptocurrency, you have come to the right place.
We offer various Online Courses, which include learning the Basics of Cryptocurrency, Trading, Investing & even 1 on 1 mentorships. Theses Courses offer knowledge, skills & support through your journey of learning & reaching your goals as a trader & investor.
Click the link below & choose the Course perfect for you.
Share Transmission
Broadcast this signal to your network
More News
Token Unlocks and Supply Events: April 2026 Calendar
Explore the April 2026 token unlock calendar, including major events for Sui, Wormhole, Hyperliquid, and others. Learn how these scheduled supply increases work, their potential effects on token economics, and why tracking unlocks is a key part of basic crypto risk assessment for beginners.
DeFi Security Risks Explained: Lessons from the April 2026 Drift Protocol Exploit
Learn from the $285 million Drift Protocol hack on April 1, 2026. This beginner-friendly guide covers DeFi smart-contract and governance risks, wallet security basics, and practical steps to protect your funds when using decentralized protocols.
Rwanda Central Bank Crypto Warning Explained: What “High-Risk, No Recourse” Means for Beginners
Rwanda’s National Bank of Rwanda warned against crypto payments and P2P trading involving the Rwandan franc in April 2026. Understand the statement, why central banks issue such warnings, and practical steps beginners can take to manage custody risk and focus on fundamentals.