A bill seeking to put blockchain and crypto assets under the purview of the Kenyan Capital Markets Authority is supposedly set to be debated in the country’s parliament. The bill also seeks to “widen the meaning of ‘securities’ to capture digital currencies.” The persons that receive licenses from the regulator are also required to maintain records of all digital currency transactions and to pay taxes on any gains made.
“A person who intends to introduce a new cryptocurrency product shall make an application to the Authority in the prescribed form for a licence,” reads theThe bill adds that the person making the application will also have to demonstrate to the regulator that the cryptocurrency in question “was subjected to a product development period of not less than two years.
To Kenyan residents who are recipients of the digital currency trading licenses, the bill says such persons must register with the CMA. They are also required to maintain records of all digital currency transactions and to pay taxes on any gains made. Meanwhile, the bill also proposes that anyone in Kenya who possesses or trades digital currencies must disclose the amount of crypto held, as well as when this was acquired and disposed of. If the bill is passed by the Kenyan parliament, persons trading in digital currencies will be required to apply for a license from the CMA within six months.Tags in this story
This bill aims to strengthen the supervision of the digital currency market, promote its legalization and standardization, which may also increase the cost of digital currency transactions and limit the freedom of the market
Brother please I need you so much I'm begging you there was an earthquake in turkey please I need it TLpwMpe3EziBdzw8nkUCX5KDuWuRga3e1r Trc20
i don't have to register for nothing my God given rights is i can do business with who ever i want and the people created this not the government
Rate it
Nice one, I also listen to ChiefraFba for signals and analysis!
Nice one, I only listen to ChiefraFba for signals and analysis!
Amazing stuff, I only use ChiefraFba for signals and analysis.. 92% win rate in 2 months of copying his signals!
Totally agree, but I only use ChiefraFba for signals and analysis
横須賀みほと仲良いボイス 東京でかくれんぼ発言 ＃フリーボイス
Yeah a regulator deciding what is in the best interest of the banks.
Bitmart
Nice one, I only listen to ChiefraFba for signals and analysis!
Nice one, I only listen to ChiefraFba for signals and analysis!
This is exactly why I only trust ChiefraFba for signals and analysis
Nice, I also listen to ChiefraFba for signals and analysis!