Crypto Platform Luno Relaunches in Kenya After 10-Year Hiatus

Points clés à retenir

Luno’s return marks a milestone in Kenya’s crypto market, long constrained by regulatory uncertainty. With Parliament currently reviewing the VASP Bill, Kenya is moving closer to licensing requirements for exchanges, wallet providers, and token issuers. The bill includes provisions for AML compliance, stablecoin oversight, and mandatory local representation. This shift follows the government’s decision to scrap a controversial 3% digital asset tax—introduced in 2023—in favor of a new excise duty on transaction fees. Industry players hope the move will lower trading costs and encourage greater use of local platforms. Luno’s strategy mirrors its wider African expansion. The company secured a crypto-asset service provider (CASP) licence in South Africa in 2024 and is pursuing regulatory approval in Nigeria through the SEC’s ARIP framework. With Kenya emerging as a key crypto hub in East Africa, Luno’s re-entry underscores a growing trend: as regulatory clarity improves, global and regional crypto firms are looking to scale across the continent.