Crypto Firms Blast Kenya’s Bill for Letting Binance Proxy Shape Policy

In an ongoing wave of crypto adoption, crypto policy and regulation are often seen coming under fire from market players. In a recent upgrade, Kenya’s draft VASP Bill is to embed a Binance‐linked think tank on its oversight board, according to disclosures …

Kenya’s Crypto Expense Raises Eyebrows The VASP (Virtual Asset Service Providers) Expense, currently before Parliament, names VAC as one of 5 private‐sector nominators to the brand‐new Virtual Assets Regulatory Authority. Critics say this continuous retainer compromises VAC’s independence and signals outsized impact for Binance over Kenya’s crypto policies. VAC’s Defense and Track Record VAC director Basil Ogolla defended the think tank’s function in remarks to The Kenyan Wall Street.

According to a report by The Kenyan Wall Street, the inclusion of the Virtual Possession Chamber of Commerce (VAC) on the regulative authority’s board triggered warnings that the move could tilt Kenya’s digital‐asset rules in favor of the world’s largest exchange. Kenya’s Crypto Expense Raises Eyebrows The VASP (Virtual Possession Service Providers) Bill, currently before Parliament, names VAC as one of 5 private‐sector nominators to the new Virtual Assets Regulatory Authority. Critics state this ongoing retainer compromises VAC’s independence and signals outsized impact for Binance over Kenya’s crypto policies. VAC’s Defense and Track Record VAC director Basil Ogolla defended the think tank’s function in remarks to The Kenyan Wall Street.