Kenya Draft Law Requires Local Office for Digital-Asset Firms
- Kenya has 3% tax on income from exchange of digital assets
- Kenya doesn’t yet have a legal framework for virtual assets
This article is for subscribers only.
Kenya will require providers of virtual assets to set up local offices as authorities in the East African nation seek a firmer grip on the fast-growing industry.
The proposed policy excludes assets that can’t be transfered, exchanged or traded outside a closed ecosytem, or used for payments or investment, according to a draft law on the National Treasury’s website.