Kenya’s National Treasury and cryptocurrency exchanges are in a standoff over a proposed regulation requiring stablecoin issuers to hold at least 30% of their asset reserves in local commercial banks.
Key Takeaways:
Kenya’s National Treasury proposed a mandate forcing stablecoin issuers to hold 30% of reserves in local banks. Crypto platforms warn the rule could trap liquidity and increase remittance costs across Kenya.Industry leaders seek to continue 2026 talks with regulators to balance user protection with sector growth.No deadline has been finalized for the draft rules as consultations between state financial regulators and sector stakeholders continue.
