Kenyan crypto association says bank restrictions prevent tax remittances
The Blockchain Association of Kenya told lawmakers it had collected but not remitted the digital asset tax, citing a Central Bank of Kenya circular restricting banks from serving virtual-asset companies. The association said the tax, set at 3% of gross fair market value, took effect on 1 September 2023 and that no payments had been remitted. It called for the tax to be scrapped and sought regulation and licensing for the sector.
The dispute concerns whether crypto businesses can remit a newly introduced tax while facing restrictions on banking access.