Kenya: National Treasury closes consultation on Virtual Asset Service Providers Regulations including authorisation requirements

On 10 April 2026, the Cabinet Secretary for the National Treasury closes the consultation on the draft Virtual Asset Service Providers Regulations. The Regulations implement Section 49 of the Virtual Asset Service Providers Act, 2025 (No. 20 of 2025). They set out authorisation requirements for activities including the conversion of virtual assets to or from foreign currency (Regulation 12), initial coin offerings (Part VI), tokenisation of real-world assets (Part VII), and the issuance of stablecoins (Part VIII). Applicants must submit white papers, disclosure documents, governance arrangements, and technical system descriptions. Approval is subject to compliance with anti-money laundering, countering the financing of terrorism, and countering proliferation financing obligations, alongside consumer disclosure requirements, reserve asset rules, and redemption mechanisms. Authorisations are valid until 31 December of the year of issuance and may be renewed annually under Regulation 13.