Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax

Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax


According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto holders to furnish Kenya’s Capital Markets Authority with details such as “the amount of proceeds from the transaction, any costs related to the transaction, and the amount of any gain or loss on the transaction.”

Sharing Crypto Transaction Details With Regulator

As per a capital markets amendment bill reportedly before the Kenyan parliament, individuals holding cryptocurrencies might in the future be required to pay taxes commensurate with the gains made, a report has said. Kenyans holding cryptocurrency for a period exceeding twelve months will be required to

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