We will be speaking more completely on crypto but keep patient: Kenya

The governor of the Central Bank of Kenya hinted that they will bring something better for this crypto industry but still their stance will remain unchanged.

In the whole world, almost every country is trying to introduce its rules and regulations so that it can bring better safety to its citizens against the negative use cases of crypto assets. But the majority of the Central banks of every country always showed a negative stance on this industry. 

Patrick Njoroge, the governor at the Central Bank of Kenya (CBK), stated his opinion again on the crypto Industry and clearly said that the point of view of the Central Bank on the crypto industry will remain the same as it was earlier. 

Njoroge also stated that they will not give any statements too early on any kind of services for the crypto industry. 

“I think we will be speaking more completely about this space, not just cryptocurrencies. Cryptocurrency is one lever, one little area……so we will be speaking more completely about this shortly but I guess in the medium term. So please be patient on that …. suffice to say that our position has not changed on any of those products.”

The majority of the reports claimed that the government of Kenya may bring highly strict rules to regulate the crypto industry. However, few people claimed that all these are just assumptions and we should not assume anything blindly before any official announcement regarding the crypto industry. 

It is worth noting that, this statement of the Kenya governor is the company just after the recent reports which confirmed that Kenya is standing at the top rank in the list of African countries, in terms of the highest numbers of the population holding crypto assets. At present time, the majority of the crypto traders of Kenya are dependent on crypto services that allow P2P services. The Central Bank imposed its banking ban to give services to the crypto industry in April 2018. In 2021, Kenya ranked top in terms of the highest p2p Bitcoin trading volume list.

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