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

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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.