The Kenya Revenue Authority (KRA) will integrate a new revenue system with cryptocurrency exchanges and marketplaces to track and record all transactions in real time, the taxman revealed.
Kenya's cryptocurrency user base has experienced significant growth over the past few years and is expected to continue expanding.
According to data from Statista, the number of cryptocurrency users in Kenya increased from just 10,400 in 2017 to 493,500 in 2023.
This upward trend is set to continue, with projections estimating the number of users will reach 733,300 by 2025.
The surge highlights the growing interest and adoption of digital currencies in the country.