Kenya opens licensing for crypto firms as VASP rules take effect

Crypto exchanges, wallet providers and other virtual asset businesses operating in Kenya must now apply for a licence, after the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) confirmed the Virtual Asset Service Providers (VASP) Regulations, 2026 have been gazetted. In a joint public notice dated 13 November, the two regulators said the regulations were gazetted on 22 July 2026 by the Cabinet Secretary for the National Treasury, in Kenya Gazette Supplement No. 185 under Legal Notice No. 134. The regulations put the VASP Act, 2025 into operation, giving Kenya its first comprehensive framework for licensing and supervising virtual asset service providers. “Accordingly, any person(s) providing or intending to provide virtual asset services are required to apply for a licence from the relevant regulatory authority pursuant to the Act,” the regulators said. The Act names the CBK and the CMA as the regulatory authorities for the sector, with each licensing providers according to the services listed in the First Schedule to the Act. Detailed licensing checklists are available on both regulators’ websites, and each will publish a list of licensed providers. Operating without a licence now carries significant penalties.