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Kenyan lawmakers move to regulate, tax cryptocurrencies

By John Muchira in Nairobi Kenya has set in motion plans to regulate and tax the fast-expanding cryptocurrency industry, a development that will result in about 4mn Kenyans being subjected to taxation. Parliament’s Finance and National Planning Committee has approved the publication of the Capital Markets (Amendment) Bill, 2023, which seeks to introduce taxation of crypto exchanges and digital wallets, and imposes transaction taxes akin to excise duty charged on bank transactions. Media outlet Business Daily reported that Parliament’s decision to proceed with the bill came after lawmakers accu…