Kenya’s crypto sector gained renewed momentum this week as industry leaders praised the Virtual Asset Service Provider (VASP) Bill as a turning point in the country’s digital finance landscape. In a joint media briefing in Nairobi, Binance’s Head of Legal for Africa, Larry Cooke, and Virtual Assets Chamber (VAC) Director Allan Kakai emphasized that the bill delivers long-awaited clarity for operators and users. They argued that Kenya now has a real chance to position itself as the continent’s leading crypto hub—provided that taxation policies evolve in step with the regulatory progress already underway. While celebrating the VASP Bill as a major achievement, both leaders cautioned that overly burdensome taxes could undermine the industry before it fully takes shape.
Cooke and Kakai noted that Kenya’s forward-leaning approach has already put it ahead of many African markets, but stressed that smart regulation and practical tax frameworks must work together to sustain innovation. Their remarks come ahead of their fireside chat at the Kenya Blockchain & Crypto Conference (KBCC), where broader policy challenges and opportunities will take center stage. Both leaders highlighted that Kenya is primed to support blockchain companies operating across all 54 African countries, especially as user adoption surges and demand for compliant, trusted platforms grows. With supportive policies, they argued, Kenya could unlock job creation, expand government revenue, and attract global exchanges looking for stable bases on the continent.
Education emerged as a critical component of the ecosystem’s next phase. Kakai underscored the need to equip lawyers, regulators, accountants, and users with the knowledge required to navigate the crypto space safely and confidently. Binance’s ongoing training initiatives were cited as an example of how private-sector partners can strengthen local capacity. Both leaders closed by reaffirming Kenya’s potential to set regulatory standards that influence not only Africa but global digital-asset policy. With collaboration, balanced taxation, and continuous education, they believe Kenya can accelerate its rise as a powerhouse in blockchain innovation.