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The efforts of Kenya to set rules for a digital asset company expressed concern Among some local crypto startups.
The new account, which would create a regulatory body for the sector, includes a group called Virtual Property Chamber of Commerce (VAC) in its control structure.
Startups claimed that this group has a close thing to do with Binance
$ 5.39b
And it could influence the future of the crypto regulation in the country.
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Kenyan Wall Street The documents viewed The VAC show will have a place on the regulatory committee if the account passes. Some entrepreneurs claimed that Binance funded public events and discussions VACand that the group acts more as a partner than as a neutral advisor.
According to the report, binans paid Vac 6000 USD per country every month to support politics. This has raised the worries that Vac could advocate for regulations favored by binans.
The report also mentioned the past efforts of VAC to get involved in the crypto rules of Rwanda, which led to the question of whether the group serves wider interests or simply represents binans.
A shareholder in the Kenyan industry warned that Allowing a group related to a crypto exchange to help form a rules could harm the international state of Kenya.
However, Vac director, Basil Ogolla, said Vic had been discussing the IMF, the Central Bank of Kenya and the National Assembly. According to him, involving the regulatory procedure is the result of this record and trust the group has built.
Meanwhile, an American Senate meeting held for discussing the potential new rules for the digital asset market recorded only a few lawmakers. How did the Cynthia Lummis Senator Senator? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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