NAIROBI, Kenya, June 11 – Binance and the Virtual Assets Chamber (VAC) have welcomed Kenya’s progress on digital asset regulation, urging tax policies that foster innovation and growth.
At a joint press briefing in Nairobi, Binance’s Head of Legal for Africa Larry Cooke and VAC Director Allan Kakai applauded the Virtual Asset Service Provider (VASP) Bill as a major milestone but cautioned that current tax structures risk stifling progress.
They called for a balanced approach that supports innovation, protects users, and positions Kenya as Africa’s crypto hub.
“We’ve proposed a model that encourages growth without overburdening users,” said Cooke.
“Kenya can lead the continent with smart, enabling policies.”
The duo is set to speak at the Kenya Blockchain & Crypto Conference, where they will further explore regulatory opportunities.
Both emphasized the need for sector-wide education and collaboration with policymakers to ensure a sustainable and inclusive digital finance future.
“With the right regulations, those that promote innovation, attract investment, and expand economic opportunity, Kenya can lead the continent,” said Kakai.
“Positive policies will unlock job creation, increase government revenue, and bring more traditional finance players into the space.”
