Crypto Regulation

The United Nations has asked Kenya to regulate and tax cryptocurrencies.

It wants mandatory registration for crypto exchanges, digital wallets and taxes and also wants crypto advertising restricted or prohibited all in a bid to make sector less attractive.

— Business Daily

Who trades in crypo… people buy and hold…while most get burned big time hii ni upuzi. I see Kenyans soon start to migrate to Uganda and Tanzania. Tax, tax tax… everything tax.

We have very poor journalism in this country. Business daily are publishing this news same way gossip sites publish football transfer rumours. Not sources at all?

Gutter press

The government already blocked banks from transacting with crypto exchanges. So I don’t understand why UN is concerned.

Wacha niwasaidie kidogo vijana wa crypto. Well in the world of finance there’s a body called the FSB (Financial Stability Board) na hapa ndio all these things are popping up from.
I don’t involve myself that much with crypto but from the little that I know, I can tell you that this body just said that they’ll announce a framework of recommendations for the crypto sector in October. They are now urging financial regulators to start supervising crypto markets in line with the principle of “same activity,same risk, same regulation”

So expect a lot of such proposals going forward juu nyinyi msipochungwa you’ll end up disrupting the entire global financial system.

Ati mandatory registration of wallets. Hehe hawa wanavuta bangi, you could ban binance and other cexes, but there’s no way to ban decentralized exchanges since you don’t have to have an account to trade your crypto with them. Alafu there’s legislation already for taxing crypto at 1.5%.