Kenyan Senate Ready to Engage Central Bank – Bitcoin News
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The Kenyan Senate is ready to engage with the Central Bank of Kenya (CBK) on the issue of cryptocurrency regulations. This comes as the country is making strides towards creating a conducive environment for digital currencies like Bitcoin.
The Senate’s move is a result of a motion sponsored by Senator Aaron Cheruiyot, who is a member of the Senate’s Finance, Trade and Investment Committee. In the motion, Cheruiyot urged the Senate to take proactive steps in order to ensure that the country was not left behind in the adoption of cryptocurrency.
The motion was unanimously passed by the Senate, with members noting that the CBK should be consulted on the matter. The Senate also noted that the CBK should be consulted on the legal and regulatory framework that would be put in place for cryptocurrency.
The move by the Senate is seen as a positive step towards the adoption of cryptocurrency in the country. It is expected that the CBK will provide a comprehensive framework that will ensure that the use of cryptocurrency in the country is done in a safe and secure manner.
The CBK has previously stated that it is open to the idea of cryptocurrency, but that it wants to ensure that the regulations are in line with international standards. It is expected that the CBK will be able to provide the necessary guidance to ensure that the use of cryptocurrency is done in a safe and secure manner.
The move by the Senate is seen as a positive step towards the adoption of cryptocurrency in the country. It is expected that the CBK will provide a comprehensive framework that will ensure that the use of cryptocurrency in the country is done in a safe and secure manner. In addition, the CBK is also expected to provide guidance on the taxation of cryptocurrency transactions.
Overall, the move by the Senate is seen as a positive step towards the adoption of cryptocurrency in the country. It is expected that the CBK will provide the necessary guidance and regulations to ensure that the use of cryptocurrency is done in a safe and secure manner. This will ensure that the country is able to benefit from the advantages that cryptocurrency provides.
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