Kenya lowers paid-up capital threshold for stablecoin issuance by 40% to $2.32 million

TechFlow reports, July 28, according to Bitcoin.com News, the National Treasury of Kenya has reduced the minimum paid-up capital requirement for stablecoin issuers by 40% to 300 million Kenyan shillings, approximately $2.32 million, to lower market entry barriers and attract global issuers to the local crypto market.

Meanwhile, the new regulations still maintain a relatively strict regulatory framework, requiring stablecoins to maintain 1:1 reserve backing, customers to complete redemptions within two business days, and the Central Bank of Kenya to implement comprehensive supervision over issuers and other virtual asset service providers.