The International Monetary Fund (IMF) has urged Kenya to establish a robust regulatory framework for cryptocurrencies to protect consumers and address risks related to Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). In a technical assistance report released on January 8, the IMF outlined the shortcomings of Kenya’s current regulatory approach to crypto assets. The report, commissioned by Kenya’s Capital Markets Authority (CMA), noted that the country relies on outdated regulations designed for traditional financial markets, which have limited applicability to the crypto landscape.
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