Kenya's overregulation and slow compliance in cryptocurrency is slowing down the growth of the country's digital economy, experts have said. Mwakisha notes that speedy regulation will hasten the adoption of the digital currency which he says has several benefits. According to Luno, a cryptocurrency platform, the Central Bank of Kenya(CBK) should hasten the adoption of digital currencies in Kenya by passing relevant regulations. The report recommended that the CBK should look into the creation of a digital currency which correlates with an individual’s digital identity. CBK this month entered into discussions with other global central banks on the possibilities of entering the digital currency space.

Source: The Star June 09, 2021 00:56 UTC