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Kenya’s Crypto Tax Threatens Africa’s Digital Economy to Halt Before It Can Unify
- Kenya introduced a revised Finance Bill 2025 imposing a 1.5% tax on the gross value of every cryptocurrency transaction to regulate digital assets.
- This tax follows government efforts to boost revenue and control Kenya’s expanding crypto market amid concerns over data privacy and regulatory clarity.
- The levy affects freelancers, NFT artists, content creators, and validators who rely on crypto for daily income, risking income loss and increased operational costs.
- Industry submissions urge a phased rollout starting with education and voluntary compliance, recommending cryptographic proofs and public audits to protect user privacy.
- Critics warn the tax could drive activity underground, deter investors, and fragment Africa’s digital economy under AfCFTA’s unified market of 54 nations.
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12 Articles
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Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide…Kenya’s Crypto Tax Threatens Africa’s Digital Economy to Halt Before It Can Unify
The post Kenya’s Crypto Tax Threatens Africa’s Digital Economy to Halt Before It Can Unify appeared first on Coinpedia Fintech News As Kenya imposes a 1.5% tax on every crypto transaction, it threatens to disrupt Africa’s digital integration. It...
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