Kenya’s tax regulator is coming for crypto transaction records
Summary
Kenya's Finance Bill 2026 would force crypto exchanges and virtual asset service providers to submit annual reports to the Kenya Revenue Authority detailing Kenyan users' trades, including buy/sell prices, profits, wallet activity, and crypto payments. The bill adds stiff penalties—fines (KSh 100,000 per false entry), potential prison terms, and provisions for sharing data with foreign tax authorities—aimed at ending anonymous crypto trading. The proposal aligns Kenya with the OECD Cryptoasset Reporting Framework and builds on earlier tax measures, but exchanges warn that comprehensive tracking will be costly and technically difficult. The move raises privacy and competitiveness concerns as Kenya balances tighter oversight with ambitions to become an African crypto hub.