Kenya’s Regulators Tell Crypto Firms to Apply for Licences: What the New Notice Says
CBK and CMA have directed virtual-asset providers to apply for licences. The notice confirms the regulatory route but does not name approved firms.
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Market Context
Kenya recorded an estimated $5.7 billion in crypto activity in the year to June 2026. That equals about KES 740 billion. The figures come from Chainalysis data reported by Business Daily. A market of this size needs clear evidence of which firms may operate.
Kenya’s regulators have told crypto businesses to apply for licences.
The joint CBK–CMA notice is dated 13 November 2026. It covers people already providing virtual-asset services and those intending to enter the market.
Applications must go to the relevant regulator. The notice also says each authority will publish its licensed-provider list. Read the official notice.
What the notice confirms
The statement points providers to licensing checklists on the regulators’ websites. It does not name an approved firm.
It also does not give a date for publishing the registers.
Preparing an application, submitting it and receiving approval are distinct stages. A register provides an additional public check.
| Stage | Evidence to look for | What it establishes |
|---|---|---|
| Application preparation | Relevant checklist and supporting documents | The firm is preparing its case |
| Application submitted | Acknowledgment from the regulator | The regulator received an application |
| Licence granted | Regulatory approval for named activities | The permitted service and licence holder |
| Register entry | Official listing | A public route to verify approval |
The first two stages should not be presented as a licence.
The announcement follows earlier legal milestones
The notice refers to the VASP Act’s commencement on 4 November 2025.
It also confirms that the implementing regulations were gazetted on 22 July 2026. They appear under Legal Notice No. 134.
The November statement therefore concerns operationalisation of the existing framework. It should not be described as the date the regulations were first gazetted. CBK–CMA notice.
Our analysis of Kenya’s final VASP rules explains the earlier changes.
The licensing transition deadline is a separate part of that history. The notice does not announce a new transition period.
Capital still depends on the activity
An application requires more than a company name and product description.
The published regulations set different paid-up capital floors. The chosen activity therefore matters to the funding plan.
| Category | Value (KES million) |
|---|---|
| Payment processor | 10 |
| Broker | 10 |
| Exchange | 100 |
| Wallet provider | 150 |
| Stablecoin issuer | 300 |
These are published requirements. They are separate from liquidity duties and do not prove that a provider is licensed.
Source: VASP Regulations, 2026, Fifth Schedule.
Source: VASP Regulations, Fifth Schedule.
Multiple authorised activities can increase the total. Regulation 85(6) adds half of each additional activity’s capital requirement to the highest applicable floor.
That issue sits behind the debate over funding pressure on Kenyan crypto startups.
Start with the service, then identify the regulator
Kenya uses a framework overseen by CBK and CMA. The activity determines the relevant route.
A business offering several functions should map each one. Buying, holding, transferring and issuing assets can raise different questions.
An exchange label does not settle the classification. Neither does describing a product as a payment app.
For the wider framework, see Kenya’s crypto licensing and compliance rules.
A useful application map identifies the customer, service and funds flow. It also records who controls assets and which functions are outsourced.
This is an analytical starting point. The regulator’s current checklist remains the application reference.
CBK’s checklist gives applicants a starting point
CBK has published an eight-page VASP licensing checklist.
It covers stablecoin issuers, virtual-asset payment processors and wallet providers.
The first step is a letter expressing the intention to apply. It must identify the proposed activities and a designated contact person.
CBK asks for a signed hard copy and an emailed soft copy. The letter must include a detailed business-model presentation.
The checklist calls for a three-year business plan, financial projections and an end-to-end funds flow. Cross-border operations and foreign regulatory status must also be disclosed.
It specifies a KES 100,000 non-refundable application fee for each activity applied for. This is separate from paid-up capital and subsequent licence fees.
These are selected requirements. Applicants must review the complete checklist and regulations.
| Regulator | Contact stated in the joint notice |
|---|---|
| Central Bank of Kenya | vaspapplications@centralbank.go.ke |
| Capital Markets Authority | virtualassets@cma.or.ke |
Use the relevant authority’s instructions for the actual submission. CBK’s checklist should not be assumed to cover CMA-supervised activities.
What customers can check
Customers should identify the legal entity behind the brand. They should then check the official approval and its scope.
A licence in another country does not automatically establish Kenyan authorisation.
Nor does a statement that an application is pending.
Our guide to checking a crypto exchange’s Kenyan licence explains the evidence to request.
The IMF’s recent proposals are another separate development. Our IMF Kenya analysis distinguishes those recommendations from published requirements.
What happens next
CBK’s checklist is already available. Applicants should use current regulatory instructions and retain their application communications.
The joint notice does not include a register or a publication timetable. Approval claims need evidence identifying the firm and authorised activity.
The November notice supplies a clear instruction to apply. It does not establish that every platform serving Kenya has been approved.
