Kenya vs Liechtenstein
Crypto regulation comparison
Kenya
Liechtenstein
No Regulation
Legal
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.
Liechtenstein's Blockchain Act (TVTG) effective since 2020 is among the world's most comprehensive crypto frameworks. The FMA supervises registered TT service providers. Adapted for EU MiCAR in 2025.
Tax Type
Varies
Tax Type
Income
Tax Rate
1.5-3% (proposed digital asset tax)
Tax Rate
1-8%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CBK (Central Bank of Kenya), CMA (Capital Markets Authority)
Regulator
Financial Market Authority (FMA)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under TVTG and MiCAR
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
Key Points
- Blockchain Act (TVTG) adopted unanimously in 2019, effective Jan 2020
- Token Container Model enables tokenization of any asset or right
- FMA registers and supervises all TT service providers
- EEA MiCAR Implementation Act entered into force Feb 2025
- First country with comprehensive blockchain-specific legislation