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Kenya vs Zimbabwe

Crypto regulation comparison

← Back to map | Kenya | Zimbabwe
Kenya

Kenya

Zimbabwe

Zimbabwe

No Regulation
Restricted

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.

Zimbabwe has restricted cryptocurrency through its central bank. The RBZ banned financial institutions from processing crypto transactions in 2018. However, in a unique move, the RBZ issued gold-backed digital tokens (ZiG tokens) in 2023 as a store of value. Zimbabwe has a history of currency instability (hyperinflation, currency collapses) which drives informal crypto adoption for hedging and remittances.

Tax Type Varies
Tax Type None
Tax Rate 1.5-3% (proposed digital asset tax)
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator CBK (Central Bank of Kenya), CMA (Capital Markets Authority)
Regulator RBZ (Reserve Bank of Zimbabwe)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No private stablecoin regulation; RBZ introduced gold-backed ZiG digital token as state currency
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
  • RBZ banned banks and financial institutions from servicing crypto in 2018
  • RBZ issued gold-backed digital tokens (ZiG) in 2023 as a CBDC-like instrument
  • No licensing framework for crypto exchanges
  • Informal crypto adoption driven by currency instability and remittance needs
  • Crypto ownership itself is not explicitly criminalized for individuals
Sources
Sources