Kenya is set to usher in a new era by introducing the Capital Markets (Amendment) Bill, 2023. This forward-thinking legislation, recently approved by the Finance Committee, will now be debated in the National Assembly, marking an important step in Kenya's approach to regulating and taxing crypto. The bill strategically positions crypto assets as securities, laying the groundwork for comprehensive regulation. One of the bill's most important provisions is imposing capital gains tax on crypto transactions, both within wallets and exchanges. This move is intended to generate revenue and serve as a deterrent to illicit financial activities involving digital currencies.
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