Is crypto legal in Kenya? Licensing of crypto platforms (VASPs)
Capital Markets Authority and Central Bank of Kenya · sources read 4 Oct 2026
Crypto businesses in Kenya are regulated under the Virtual Asset Service Providers Act, 2025. Any company offering crypto services to Kenyans, such as an exchange, wallet or broker, must be licensed by the CMA or the CBK, and the licensing rules were gazetted on 22 July 2026.
- Fee
- KSh 100,000Virtual asset exchange: application feeKSh 1,000,000Virtual asset exchange: licence feeKSh 100,000Wallet provider: application feeKSh 500,000Wallet provider: licence feeKSh 100,000Broker: application feeKSh 100,000Broker: licence feeKSh 10,000Investment advisor: application feeKSh 50,000Investment advisor: licence fee
- How long
- Within 30 days of receiving all documents and finishing due diligence
- Where
- The Capital Markets Authority (exchanges, brokers, advisers, coin offerings) or the Central Bank of Kenya (payment processors), by service type. Contacts: virtualassets@cma.or.ke or vasp@centralbank.go.ke
What you need
- A business plan and a fit and proper assessment form
- Proof of source of funds and evidence of paid-up and liquid capital
- A certified copy of the certificate of incorporation
- Proof of payment of the application fee
Steps
- Find your regulator. The CMA and the CBK license crypto businesses by type of service: for example, exchanges go to the CMA and crypto payment processors go to the CBK.
- Apply to that regulator on the official application form, with your documents and the application fee.
- Attend an interview if the regulator asks for one to get more information about your application.
- If you are approved, pay the licence fee to get your licence, then start business within 12 months.
Watch out
- Running a crypto business without a licence is a crime: up to KSh 10 million or 5 years in jail for a person, and up to KSh 25 million for a company.
- Foreign platforms count too. A platform that targets Kenyans or earns money from Kenya is treated as operating in Kenya, even without an office here.
- The CMA and the CBK must publish a register of licensed crypto businesses on their websites. Check it before you trust a platform with your money.
Who this covers
- Only a company limited by shares registered under the Companies Act (a Kenyan or a registered foreign company) can apply for a licence.
Official sources (3)
- Virtual Asset Service Providers Act, 2025 (No. 20 of 2025) cma.or.ke · read 4 Oct 2026
- Virtual Asset Service Providers Regulations, 2026 (L.N. 134, Kenya Gazette Supplement No. 185, 22 July 2026) cma.or.ke · read 4 Oct 2026
- Public notice: Commencement of the Virtual Assets Service Providers Act, 2025 (November 18, 2025) centralbank.go.ke · read 4 Oct 2026