This Week in Africa Crypto: Regulatory Changes in Kenya and Namibia, Plus a Life-Changing Mining Story

Jump into the latest developments in the African cryptocurrency sphere! Key highlights include a new crypto bill in Kenya, Namibia's regulatory licenses, and an inspiring story about Bitcoin mining in the DRC.

Kenya Crypto News: New Crypto Bill and Public Consultation

Kenya Crypto Bill While cryptocurrencies are not banned in Kenya, the country has lacked a structured regulatory environment for crypto firms. The recent announcement of a new regulatory framework aims to change this, and public feedback is encouraged before its finalization.

Cabinet Secretary John Mbadi stated:

“Kenya’s financial sector is a beacon of innovation and growth in Africa. The emergence and growth of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) have allowed dynamic opportunities and challenges.”

This draft bill focuses on fostering a fair crypto market, open for public input until January 24.

Namibia: Provisionally Licensed Crypto Firms

Namibia Crypto Despite trading being illegal, Namibia has granted provisional licenses to four companies, enabling them to operate under the new Virtual Assets Act of 2023. Spokesperson Kazembire Zemburuka emphasized this as a significant movement toward innovation and public protection.

“Only after six months do they get final approval. They must hire their staff and establish infrastructure in the meantime.”

Inspiring Mining Initiative in the DRC

DRC Mining In the Democratic Republic of Congo, Sébastien Gouspillou, co-founder of BigBlock Datacenter, is spearheading innovative Bitcoin mining operations that aim to have a positive impact on the local community. His efforts not only support conservation efforts but also aim to electrify rural areas.

This week also focuses on how the changing landscape in Africa’s cryptocurrency environment could impact future developments. Stay tuned for more insights next week!