Skip to main content

Central Bank Governor Says Kenya’s Position on Cryptocurrencies Has Not Changed

Kenya’s position on cryptocurrencies is still unchanged the governor of the Central Bank of Kenya (CBK), Patrick Njoroge has said. Njoroge latest remarks come as Kenya continues to cement its position as one of the countries on the African continent that has the highest adoption of cryptocurrencies.

CBK’s New Stance of Cryptocurrencies to Be Unveiled Soon

The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has said Kenya’s stance on cryptocurrencies remains unchanged. Njoroge, who made the comments soon after the CBK’s monetary policy announcement, revealed however that the central bank will be talking more about cryptocurrencies in the near future.

As noted in the Kenyan Wallstreet report, the governor’s reiteration of the CBK’s stance on cryptocurrencies is coming more than six months after reports emerged that Kenyan banks were issuing alerts that urged clients to desist from the practice of trading cryptocurrencies.

Njoroge’s reaffirmation of the central bank’s position on cryptos is also coming in the wake of reports that Kenya is now ranked the African country with the highest percentage of its population that hold cryptocurrency. In addition, Kenya is expected to continue leading the world’s peer-to-peer cryptocurrency market in 2022.

Central Bank Governor Urges Patience

Yet, despite these reports and the data suggesting that Kenya had Africa’s second-largest peer-to-peer bitcoin traded volumes in 2021, Njoroge appeared to suggest that his institution will not rush to make any new announcements concerning its stance on cryptos and other products. He said:

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 in the near future 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.

What are your views on this story? You can tell us what you think in the comments section below.



from Bitcoin News https://ift.tt/pbiMBz74t
Labels:

Comments

Post a Comment

Popular posts from this blog

Seven UK Companies Form Cryptocurrency Trade Body

Seven major crypto companies operating in the UK have announced the formation an independent cryptocurrency trade body. The group, Crypto UK, has stated that its principal aim is to “improve industry standards and engage policymakers.” Also Read:   Independent Ratings Agency Alerts Investors About Dangers of Tether Leading Cryptocurrency Companies form Crypto UK Trade Body Seven leading cryptocurrency companies operating the UK have formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry, in addition to “engag[ing] policymakers.” The members of Crypto UK are Coinbase, Etoro, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare – comprising trading platforms, exchanges, asset managers, merchants, comparison websites, and intermediaries from the cryptocurrency sector. “Regulation is Imminent” The Crypto UK chairman and managing director of Etoro, Iqbal Gandham, described the trade body’s mission as “promot[in...
41 comments
Read more

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more