Kenyan Regulators Will Meet to Discuss Cryptocurrencies Early Next Year
Last month, Kenya announced the Central Bank of Kenya and the Capital Markets Authority are planning to meet in early 2018 to discuss fintech regulations – including those pertaining to cryptocurrencies. Regulatory policy and strategy director at Kenya’s Capital Markets Authority, Luke Ombara, stated “the joint financial specter regulators forum intends to meet in the first quarter of 2018 to review oversight of fintech solutions from a holistic perspective that cover all the five subsectors in the financial market – banking, insurance, capital markets, pensions and Saccos.”
Kenyan media outlet, The Star, reported that Mr. Ombara also indicated that “under banking, [Kenyan regulators] will review the cryptocurrencies and distributed ledger technology.”
Majozi Sithole, Governor of the Central Bank of Swaziland (CBS), has advanced a cautious position with regards to cryptocurrencies. Whilst speaking during the recent Swaziland Economic Conference 2017, Governor Sithole expressed the CBS’s desire not to stand in the way of innovation, however, emphasized the risks that cryptocurrency trading may present to retail investors. “It may not be wise to dismiss virtual currencies and as the CBS we are learning and we want to accept and support innovation. If this is innovation, we do not want to stifle it. We want to learn more about it… We are aware that people are trading on these platforms and we want to caution people to be careful. This has become a topical issue globally and we are studying it and continually talking to experts on this issue”, the governor said….[contd.]
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