A bill has been approved by the National Assembly’s Finance and National Planning Committee in Kenya, which defines crypto assets as securities and imposes capital gains tax on them. The bill aims to regulate the trading of cryptocurrencies in the country and prevent proceeds of crime and terrorism financing. If passed, Kenyans will be required to declare their crypto assets and their value to the Kenya Revenue Authority. The bill also includes provisions for banks to deduct excise duty on commissions and fees charged on crypto transactions. This move by Kenya follows the trend of other countries in implementing crypto taxes and cracking down on those who fail to accurately report their crypto holdings.

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Information	Details
Geography	Africa
Countries	🇰🇪
Sentiment	neutral
Relevance Score	1
People	Kimani Kuria
Companies	National Assembly’s Finance and National Planning Committee, His Majesty’s Revenue and Customs, Kenya Revenue Authority (KRA)
Currencies	kenyan shillings
Securities	None