MPs Raise Concerns Over Proposed Stablecoin Rules, Warn Against Stifling Innovation

The National Assembly’s Committee on Delegated Legislation has raised concerns that proposed regulations governing stablecoins could hinder innovation, weaken Kenya’s competitiveness as a regional financial technology hub and drive investment to rival jurisdictions. During a consultative meeting with representatives from… The National Assembly’s Committee on Delegated Legislation has raised concerns that proposed regulations governing stablecoins could hinder innovation, weaken Kenya’s competitiveness as a regional financial technology hub and drive investment to rival jurisdictions. During a consultative meeting with representatives from the virtual assets industry, the committee questioned several provisions contained in the National Treasury’s draft [...] The post MPs Raise Concerns Over Proposed Stablecoin Rules, Warn Against Stifling Innovation appeared first on Kahawatungu.