Binance, Luno, Yellow Card, others seek Kenyan crypto licences under new rules

The licencing push marks a significant shift for Kenya’s digital asset industry, which has operated in uncertainty for years, despite being one of Africa’s largest crypto markets. The new Virtual Asset Service Provider (VASP) framework places exchanges, wallet providers, payment processors, and other digital asset firms under formal oversight by the Capital Markets Authority (CMA) and the Central Bank of Kenya (CBK), making Kenya one of the few African countries with a dedicated crypto licencing regime alongside jurisdictions such as South Africa—under the Financial Advisory and Intermediary Services (FAIS) Act—Mauritius, and Botswana.