A Kenyan parliamentary committee has reportedly approved a bill that proposes to widen the definition of securities to include cryptocurrencies. The bill proposes a tax on crypto exchanges and digital wallets as well as a capital gains tax on users who realize a capital gain from the sale of their crypto assets.
Bill Just Two Readings Away From Presidential Assent
A Kenyan parliamentary committee recently voted to approve the publication of a bill that proposes to include cryptocurrencies in the definition of securities, according to a report. The bill, sponsored by Abraham Kirwa, a member of parliament (MP) for Mosop, is now set to go to the Kenyan National Assembly for a second reading. Legislators are expected to debate and make further amendments at the third reading stage.
Once the bill, known as the Capital Markets (Amendment) Bill, 2023, is approved, it will be sent to the Kenyan president for his assent. Kimani Kuria, whose committee approved the bill, said regulating the crypt
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