Business Daily·3 min read·medium
Treasury bows to pressure, cuts capital limit for crypto firms
D
Dennis Musau
✦AI Summary
The Kenyan Treasury has reduced the minimum paid-up capital requirements for cryptocurrency firms by 40 percent to encourage investment. The new regulations set the limit at Sh300 million for stablecoin issuers, responding to industry concerns that previous high costs would stifle market growth.
The Treasury has substantially cut its earlier proposed minimum capital for cryptocurrency firms by up to 40 percent, bowing to pressure amid warnings that steep charges would deter investments in the fast-rising segment.
businesscryptoeconomy
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