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Kenya and Ghana are the latest nations to introduce comprehensive cryptocurrency regulations, signaling a major shift from skepticism to structured oversight. Kenya’s new “Virtual Asset Service Providers Bill” establishes clear licensing for exchanges and defines a role for its central bank, particularly for stablecoins. Similarly, Ghana’s central bank has released a detailed draft policy, proposing a multi-agency approach to govern the burgeoning industry. This regulatory push is driven by massive user adoption, with over six million Kenyans and three million Ghanaians now engaging with digital assets. Beyond consumer protection, governments aim to formalize this large, informal economy to broaden their tax base. For users, this new regulatory clarity promises enhanced safety, reduced scams, and a path toward greater financial inclusion for the millions who remain unbanked.
African Business