THELOGICALINDIAN - Kenyas Capital Markets Authority CMA says the country needs a added encompassing access that enables it to advantage added regulators ability back testing crypto assets
Kenyan Crypto Interest
Also, the Kenyan body, which favours a collective banking area authoritative sandbox, says it is agog to coin “a accepted attitude and joint-messaging with the Central Bank of Kenya (CBK)” back it comes to cryptos.
The CMA’s latest annotation on cryptocurrencies follows the absolution of the Capital Markets Soundness report of Q1, 2021. According to the annual report, which itself relies on the Chainalysis 2020 Geography of Cryptocurrency Report, Kenya “is the top 5 in all-around crypto-trading activity.” The country’s absorption in cryptos is additionally reaffirmed by a Blockchainnenter.net address which places Kenya’s bitcoin chase absorption at 94.7%.
Investor Protection Mandate
Yet, admitting this acceptance of crypto assets’ growing popularity, the Kenyan regulator insists it still has an broker aegis authorization to uphold. Concerning its position on this, the regulator says:
While the CMA concedes that abounding Kenyans accede cryptocurrencies “an another advance class”, it about insists that such agenda assets are now an “area of interest” back they will acceptable “impact the acumen of Kenya’s basic market.”
With this latest report, the CMA becomes the latest African authoritative anatomy to reiterate an beforehand position on crypto assets. Another African regulator to afresh recapitulate its attitude on cryptocurrencies is Ghana’s Securities and Exchange Commission. As reported by Bitcoin.com News, this regulator wants Ghanaians to break abroad from cryptocurrencies. Similarly, Nigerian regulators accept issued several statements admonishing association of the risks of trading in cryptocurrencies.
What are your thoughts on the latest statements by Kenya’s CMA apropos crypto assets? You can allotment your angle in the comments area below.
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