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Shaky crypto: CBK shelves search for digital currency

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Global crypto market is in upheaval following collapse of high-profile exchanges. [iStockphoto]

The Central Bank of Kenya (CBK) has shelved plans to develop a digital currency on the back of instability in the global crypto assets market and the high adoption of digital payments in the local market.

This is the outcome of public consultations carried out by the regulator to determine its readiness to roll out a Central Bank Digital Currency (CBDC).

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