CBK yet to fully accept trading in virtual currencies

92 views · Published 23 May 2018 · 2:53 · Indexed 21 September 2026

Channel: KBC Channel 1 · 2018 · News & Politics

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Financial stability risks as well as being conduit for illicit financing  among others are the main reasons why the Central Bank of Kenya is yet to fully accept trading in virtual currencies. According to CBK governor Dr. Patrick, far from the commonly known bitcoins, the regulator has received over 2,000 license applications for virtual currencies but is yet to approve any of them owing to their short term viability nature. Innovators in the virtual currencies field however reckon that they have now been able to address concerns raised by the central bank such as trace ability and monitoring of digital currencies.
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