Report: Kenya to Start Levying Tax on Revenue Earned by Crypto Exchanges

April 29, 2023 Bitcoin.com

Africa

According to regulations published by the country’s treasury secretary, global crypto exchanges used by Kenya’s estimated 4 million users will start paying a 1.5% tax on revenues earned. Tax-Avoiding Digital Asset Platforms The Kenyan Treasury has said it will start levying taxes on revenues earned by cryptocurrency exchanges used by an estimated 4 million local […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Crypto Policy: Kenyan Senate Ready to Engage Central Bank

February 24, 2023 Bitcoin.com

Africa

The Kenyan Senate’s Information, Communication and Technology committee has said it is ready to engage the Central Bank of Kenya (CBK) and other stakeholders in shaping the country’s policy towards crypto assets and virtual asset service providers. According to the committee, such a policy helps govern the use of crypto assets in the country “to […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Kenyan Central Bank Rejects Deputy President Rigathi Gachagua’s Claims Country Lacks Forex to Import Oil

October 4, 2022 Bitcoin.com

Africa

The Central Bank of Kenya appeared to rebuke the country’s new deputy president Rigathi Gachagua, after it rejected the latter’s claims the East African nation lacks enough foreign exchange to import oil. According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. Central Bank […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Kenyan Central Bank Raises Key Rate by 75 Basis Points

October 2, 2022 Bitcoin.com

bitcoin.com

The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. Growing Inflationary Pressures Following its […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Fintech Unicorn Flutterwave Granted ‘Game Changing’ License by Nigerian Central Bank

September 3, 2022 Bitcoin.com

bitcoin.com

The Nigerian fintech Flutterwave has said the switching and processing license it recently received from the Central Bank of Nigeria allows it to “deliver an improved experience to our customers.” The new license is said to allow Flutterwave to “connect every single store of value in Nigeria to global commerce.” New License Said to Be […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Flutterwave Kenya License Controversy: Fintech Giant Reportedly Applied in 2019

August 11, 2022 Bitcoin.com

Asset Recovery Agency

The Nigerian fintech unicorn, Flutterwave, reportedly said it submitted an application for a payment service provider license to the Central Bank of Kenya back in 2019. The fintech also said it has remained in constant contact with the central bank and is hopeful it will get the license. CBK Allegations The Nigerian fintech giant Flutterwave […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Kenyan Central Bank Orders Financial Institutions to Stop Dealing With Two Nigerian Fintechs

August 1, 2022 Bitcoin.com

Asset Recovery Agency

In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigerian fintechs, Flutterwave and Chipper Cash. The letter reiterates the CBK governor Patrick Njoroge and the Asset Recovery Agency (ARA)’s assertions that the […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Report: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks

July 29, 2022 Bitcoin.com

bitcoin.com

The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Report: Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but Endorse CBDCs

June 13, 2022 Bitcoin.com

bitcoin.com

Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap The Nigerian and Kenyan central bankers have said cryptocurrencies are too volatile to […]

$2,700,000 To Be Given Away, No Strings Attached, As Google-Backed Guaranteed Income Pilot Prepares for Launch

Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC

April 1, 2022 Bitcoin.com

bitcoin.com

According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded. Central Bank Mulls Delaying CBDC Rollout The governor of the Central Bank […]

central bank of Kenya