Kenya Softens Stablecoin Capital Rules, Keeps Reserve Mandate

Kenya has lowered the highest capital hurdle in its new virtual-asset regime, trimming the paid-up capital required for stablecoin issuers by 40% after industry consultation while leaving intact some of the framework's most consequential controls over digital-dollar businesses.•The National Treasury's March draft regulations indicated stablecoin issuers would need up to KSh 500 million in paid-up capital but updated regulations gazetted last week instead require KSh 300 million, reducing the single highest capital threshold in the licensing regime.