Bitcoin ATMs Appear in Nairobi Malls Amid Kenya’s New Crypto Law
Cryptocurrency is taking a visible step into Kenya’s mainstream financial landscape as Bitcoin ATMs have started appearing in major shopping malls across Nairobi. The machines, branded “Bankless Bitcoin,” allow giving shoppers access to cash-to-crypto services.
Shoppers at malls such as Two Rivers in Gigiri, Westlands, and along Ngong Road have reported seeing these bright orange kiosks. For many, this is the first time Bitcoin has been visible in formal retail spaces, signaling the potential for broader adoption beyond tech-savvy individuals and informal markets.
The timing of these ATMs coincides with the enforcement of Kenya’s Virtual Assets Service Providers (VASP) Act, 2025, which came into effect on November 4, 2025. The law establishes a licensing and regulatory framework for digital asset service providers, including exchanges, custodial wallet operators, and other crypto platforms.
However, the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) have yet to license any VASPs. They caution that companies operating in the absence of a license are technically running outside the law. Detailed regulations needed to implement the licensing framework are still being finalized by the National Treasury.
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The introduction of ATMs in malls represents a move toward integrating cryptocurrency into everyday financial life, bridging the gap between informal adoption and formal market infrastructure.
The emergence of Bitcoin ATMs in Nairobi presents several opportunities for Kenya’s financial ecosystem. Greater adoption is a key advantage, as placing ATMs in high-traffic retail locations can help normalize cryptocurrency use and introduce it to a broader, everyday audience. Additionally, these developments provide an avenue for stability: once licensing and regulatory frameworks are fully implemented, ATM operators could function within a secure and legally recognized system, fostering trust among users and investors alike.
At the same time, the rapid deployment of Bitcoin ATMs carries significant risks. Legal exposure is a major concern, as operators running unlicensed services may face penalties or enforcement actions from regulators. Consumer vulnerability is another risk as users could experience financial loss due to market volatility, technical errors, or scams, particularly in the absence of established protections.
