Binance, Crypto Chamber back Kenya bill, urge balanced tax policy

Global blockchain powerhouse Binance and Kenya's Virtual Assets Chamber (VAC) have praised the country's progress on cryptocurrency regulation, describing the recently introduced Virtual Asset Service Provider (VASP) Bill as a major milestone in creating an inclusive and innovation-driven digital economy.

Speaking at a joint press briefing in Nairobi, Binance's Head of Legal for Africa Larry Cooke and VAC Director Allan Kakai said the bill is a vital first step toward establishing Kenya as a leading crypto hub in Africa, but warned that a punitive tax policy could slow down its momentum.