Ati a gvt body clamping down on online trading

What ferkery is this . They have failed to create a system that creates employment . Now youths are taking classes to teach them how to make money through online trading. Then unakaa chini na unasema:

The market regulator is planning on clamping down on unlicensed online currency traders in a bid to regulate the Forex black market.
The Capital Markets Authority has warned Kenyans against engaging in online foreign exchange trading through platforms of unlicensed entities as they risk losing their investments and may not be protected by the law.

CMA boss Paul Muthaura said there are several individuals and entities carrying on the business of an online foreign exchange broker or a money manager without the relevant license by the Authority.

“The Authority will also take appropriate enforcement action against any persons or entities illegally conducting online foreign exchange trade or collecting client funds in contravention of the above regulatory provisions,” Muthaura said.
“Members of the public who have been affected or become aware of such illegal online foreign exchange transactions are advised to report to the Authority or to the Capital Markets Fraud Investigation Unit,” the CMA boss added.
The capital markets regulator, estimates that about 50,000 people, including brokers, dealers and money managers, are in the business and are mainly using offshore platforms that are not overseen by Kenyan regulators to offer the service.

Why isn’t this online forex trading illegal in first world countries ?

My thoughts: people want cast system in kenya where the poor remains in their place and rich theirs too. Pesa yako ikiungua hauta laumu serikali. Then mbona wanawashwa?
Ati money laundering? Why not put systems to curb money laundering itself? You have burden of corruption that launders taxpayers money day in day out na mumeshindwa… this guy reasons just like his father Francis muthaura- colonial thinking.

Kidogo utasikia wataanza clamping down on freelance writers kwa Web ati they don’t pay taxes . Chieth kabisa.

Done ranting

Jama wa online writing tunakuona

Stop being intimidated by clueless individuals. Did they explain how they will go about it? If the US government hasn’t done so with its sophistication(C.I.A, NSA…) how is Kenya going to do it?
They can only target brokerage firms operating in Kenya, not individuals. Bure nitahamia kwa kina bibi(Rwanda)

Mtakujiwa ati you guys don’t pay taxes. It’s a matter of time

Thought of tagging you ulete your expertise opinion

We won’t pay taxes! Hehehe. The guy who trades on my behalf is just laughing.

First of all there is no hard cash exchange. Extremists in our circles have done away with banks.
Instead of offering incentives to attract foreign brokers like SA does, the dimwits are sending even local ones away! If only they knew the volume of money that is involved, potential tax…

Naona mkono ya forex traders wa banks in this. They enjoyed monopoly till freelance players joined the league. During my days as a banker, just in one day the bank treasury department would rake $500,000 on a single deal in one day.I remember one deal ya KenGen clearly. The guys working in those departments were paid millions in bonuses. Share the wealth.

Wakisha link bank account na Pin. Maneno kwisha

[SIZE=1]Fungua PayPal account ama Tafuta cuzo yako aliye trumpistan afungue bank account akutumie debit card. Link hiyo bank account to your forex account. You would have beaten the system clean [/SIZE]

We bypass banks all the time dude.

Hiyo iko under NIS surveillance due to terrorist cash transactions. If you clock +$7000 per month, easy to get you.

:smiley: Re read my comment I just edited

Nope iko crypto eg monero etc, huko hawatakupata

As long as you don’t come back asking the ‘gavament’ to compensate you once you burn ala quail, pyramid schemes, Ekeza saccos, what you do wih your money is your problem…

Mzee Forex si pyramid

Wewe unashindaga hapa ukisema gavament,gavament,gavament,gavament kwani gavament ni ya mama yako.

If they had their shit together tungekuelewa,wacha kutapatapa kila mahali ukisema gavament inaonewa

Good na ukiungua unaungua pole pole

never ever underestimate the law and the law enforcement for in doing, for in doing so you are scorning the Government . i’m not all that on matters internet, but can someone explain to me, how various gov’t world world are able to shut down various aspect of internet in there countries ?

Forex trading is highly regulated in developed countries. Time to do that in Kenya. Nyinyi watu wa forex sijui huwa mnajiona aje. I once saw a lady at a line infront of me whip out her infinix and immediately traded 8 dollars in her forex account. She then looked around to see if anyone had noticed her sophistication. Umeffi kapsa.