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Kenya Government Hints a Ban on Cryptocurrency in the Country

The government is hesitant to permit the usage of cryptocurrencies in the nation due to their opaque style of operation. Kenya Cryptocurrency Ban

This was disclosed by Interior Cabinet Secretary Prof. Kithure Kindiki, who cautioned that cryptocurrencies might be used to fund terrorism as well as money laundering.

CS Kindiki stated that there are currently several unclear legal areas that permit the usage of digital currency in the nation when testifying before the Gabriel Tongoyo-led National Assembly Ad-hoc committee looking into the activities of Worldcoin in the country. Kenya Cryptocurrency Ban

I need to be convinced as a security minister, that if there are grey areas and we can’t pinpoint the owners of the money and how they have made that money at the crypto trade level until the money finds its way into a financial institution, then at the risk of being accused of being at war with commerce and technology, I would be reluctant to allow it in the country.

Prof. Kithure Kindiki, Interior Cabinet Secretary

Read Also: Kenya Government Suspends Worldcoin Amid Safety Concerns

Additionally, he disclosed that the American government intervened to allow the owners of the Worldcoin company and its affiliate, Tools for Humanity, to leave the country despite being prohibited.

They tried to leave the country but were stopped and put in custody but the US government intervened saying they would be allowed to leave because they haven’t yet been found guilty, but gave an undertaking that it will produce them when required.

The interior minister also promised to ensure that anyone responsible for permitting WorldCoin to operate unlawfully in the nation will be held accountable. Just recently, Kenya stopped the activation campaigns for users who turned up in large numbers to be enrolled on the WorldCoin platform as users.

Anyone in government or out of government, in private sector or public sector who it’s established aided, supported, encouraged or even attempted to support any of those things in relation to Worldcoin, we will hold them accountable. Kenya Cryptocurrency Ban

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