Kenya is making major changes to how cryptocurrency and online gambling are controlled in the country through the proposed Finance Bill 2026. The bill was introduced by Treasury Cabinet Secretary John Mbadi and is now being discussed in Parliament.
The government wants crypto platforms, also known as virtual asset service providers, to report the names, wallet activities, and transaction records of users to the Kenya Revenue Authority, or KRA. This is meant to stop people from hiding money, avoiding taxes, or moving gambling earnings through cryptocurrency platforms without government oversight.
At the same time, Kenya plans to bring back a 20% withholding tax on gambling winnings. The bill also expands taxes on betting activities by including tokens, credits, and digital gambling payments. Officials say these changes will help the country increase tax collection and close loopholes in the fast-growing digital economy.
The new proposals come as more young Africans use cryptocurrency for business, payments, and online betting. Kenya is one of Africa’s biggest crypto markets, so these changes are attracting attention across the continent.
The impact could be significant for Africa because other governments may follow Kenya’s example by introducing stricter crypto regulations and stronger digital tax systems. Supporters believe this could reduce illegal financial activities and improve government revenue, while critics fear it may reduce financial privacy and slow innovation in Africa’s growing tech and crypto industries.
