As per the governor of the Central Bank of Kenya, Patrick Njoroge their position on cryptocurrency still has not changed. It remains as firm as before, saying that bitcoin and cryptocurrency are and will continue to be illegal in the country.
On 27th, January 2022, at the press conference, the governor pointed out that the Central Bank will be stating the future. Which is regarding not just crypto alone but the whole space of such a market.
This statement of Governor Patrick Njoroge came into light, due to the report on how Kenya is ranked in top African countries with the high rising rate of cryptocurrency holders. It is also expected that in 2022, Kenya will continue to lead the world’s peer cryptocurrency market
Even after considering the data and information that indicated that Kenya is the second-highest peering trading volume in the Bitcoin market. Patrick Njoroge says the Central Bank will not make any hasty or rushed statement regarding the crypto stance.
Though it was also mentioned that they might have more talk on cryptocurrencies in near future. So he told everyone to be patient with them and that so far no changes have been made in the previous decision.
Last year the Central Bank of Kenya mentioned that Bitcoin (BTC) is just a form of digital currency. That is unregulated and is not issued by any Central Bank or ant government. With many governments being against this new age Defi tech it will be interesting to see what crypto exchanges will do to change their mind.
