Kenya proposes legislation to legalize cryptocurrencies

CoinRank News: Kenya is preparing legislation to legalize cryptocurrencies, John Mbadi, cabinet secretary for finance, said on Friday, marking a major shift in the governments stance. Kenya bans cryptocurrencies, but they are still widely used underground by the public to circumvent restrictions. The emergence and development of virtual assets and virtual asset service providers have brought innovation, dynamic opportunities and challenges to the local and international financial systems, Mbadi said in a statement outlining the new policy.