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Argentina vs Kenya

Crypto regulation comparison

← Back to map | Argentina | Kenya
Argentina

Argentina

Kenya

Kenya

Legal
No Regulation

Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.

Kenya has no comprehensive cryptocurrency legislation, though it is one of Africa's leading crypto markets by adoption. The Central Bank has issued warnings but no formal ban. Kenya's 2023 Finance Act introduced a 3% Digital Asset Tax on income from digital asset transfers, signaling growing regulatory attention.

Tax Type Income
Tax Type Varies
Tax Rate 5% (peso-denominated) / 15% (foreign currency)
Tax Rate 1.5-3% (proposed digital asset tax)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CNV (Comisión Nacional de Valores), BCRA
Regulator CBK (Central Bank of Kenya), CMA (Capital Markets Authority)
Stablecoin Rules No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules No specific stablecoin regulation
Key Points
  • CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
  • Crypto gains taxed as income under the income tax law at progressive rates
  • High adoption driven by inflation and capital controls on the Argentine peso
  • Exchanges must register with the CNV and comply with AML/KYC requirements
  • No legal tender status for crypto; the peso remains the only legal tender
Key Points
  • No specific cryptocurrency legislation, but the 2023 Finance Act introduced a 3% Digital Asset Tax
  • CBK has issued multiple warnings about crypto but has not imposed a ban
  • CMA considering a framework for digital asset regulation
  • Kenya consistently ranks among the top countries globally for crypto adoption (P2P volume)
  • M-Pesa mobile money dominance shapes how Kenyans access crypto via P2P exchanges
Sources
Sources