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CMA says has not approved any Initial Coin Offering

Paul Muthaura CEO Capital Markets Authority

NAIROBI, KENYA: The Capital Markets Authority has issued a warning to Kenyans against initial coin offerings.

Initial Coin offerings (ICOs) involve creation of digital coins using distributed ledger technology and subsequent sale to investors. CMA says in a statement that there are ongoing invitations to members of the public to invest in such coins in what is being marketed as “pre-sale before launch on public exchanges.”

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