A Bill that seeks to establish a comprehensive regulatory framework for the booming virtual asset sector is currently before the National Assembly.
The Virtual Asset Service Providers Bill (National Assembly Bill No.15 of 2025) sponsored by Molo MP Kuria Kimani seeks to position Kenya as a leader in digital finance on the African continent. Kimani highlighted Kenya's impressive engagement with digital assets ranking third in Africa on-chain weighted transactions.
According to the MP, in the last one year, Kenya has traded in at least Sh258 billion in decentralised protocols, liquidity aggression and synthetic platforms. "We have approximately 6.1 million Virtual Assets Services users with the country having the potential in this space to generate at least Sh130 billion in terms of foreign direct investment, the passage of this Bill having the potential to create, at least, 25,000 jobs in Kenya in the next one year," said Kimani.
The National Assembly Finance Committee chairperson suggested that block chain technology could be used to address the country's substantial pending bills with the Controller of Budget estimating them to be around Sh550 billion, which can be tokenized.
