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

On 17 March 2026, the Cabinet Secretary for the National Treasury opened a consultation on the draft Virtual Asset Service Providers Regulations until 10 April 2026. 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. In parallel, nationwide public participation forums are being held between 30 March and 10 April 2026.