The Virtual Assets Chamber of Commerce (VACC), and Binance, a leading global crypto exchange, have jointly advanced Kenya’s efforts toward crypto regulation by hosting a technical training session for members of Parliament’s Finance and National Planning Committee.
The session was hosted in Nairobi on Wednesday to equip lawmakers with hands-on knowledge of blockchain technology and virtual assets as the country moves closer to passing the Virtual Assets Service Providers (VASP) Bill 2025.
Lawmakers performed real-time trades using the Binance platform
The training gave legislators practical insights into the crypto market, including live blockchain transactions, discussions on digital currencies, and regulatory barriers. Lawmakers engaged in real-time transactions on Binance to better understand how cryptocurrencies function, while also exploring topics such as consumer protection, financial crime, and monetary policy.
Allan Kakai, Director of VACC, emphasized the session’s importance, stating: “We discussed consumer protection, financial crime, and monetary policy. The session offered critical strategies to safeguard users and support responsible growth.”
During the training, Julius Ruto, a parliamentary committee member, acknowledged the country’s growing role in Africa’s crypto adoption, remarking: “This is a new frontier. Kenya is already third in Africa in virtual asset adoption. We must protect consumers and investors with proper legislation.”
However, the training comes at a crucial time as Kenya’s VASP Bill 2025 enters a two-week public participation phase. The bill, developed by the National Treasury, Capital Markets Authority (CMA), and Central Bank of Kenya (CBK), seeks to bring virtual asset service providers under local regulatory oversight.
Kenya has already introduced a Digital Asset Tax (DAT) and is considering further amendments to the Capital Markets Act to enhance transparency in crypto trading. As it proceeds, concerns remain about whether taxation could stifle innovation, as seen in the country’s previous crackdown on the gambling sector.
Tony Olendo, VACC Chairperson, noted the nation’s opportunity to become a regional leader, saying, “This legislation is our opportunity to make Kenya a regional innovation hub.”
Kenya aligns with Nigeria, South Africa on crypto laws
With Kenya following in the footsteps of Nigeria and South Africa in establishing crypto regulations, the move is expected to boost cross-border payments, digital entrepreneurship, and financial inclusion. The VASP Bill reflects recommendations from industry stakeholders, including VACC, which has actively engaged with lawmakers on policy frameworks.
As public participation on the bill continues, VACC has urged citizens and industry players to contribute their views, emphasizing the need for balanced regulations that foster innovation while protecting investors.
“We extend a heartfelt thank you to Parliament, our regulatory partners, and our members for their continued support and trust in VAC’s mission to promote responsible innovation in digital finance,” the organization stated.
The session marks a pivotal moment in the country’s crypto journey, signaling a shift from uncertainty to structured oversight—a development that could shape the future of digital assets in East Africa and beyond.