IMF urges Kenya to adopt crypto travel rule

The International Monetary Fund has urged the Kenyan government to establish rules for virtual asset service providers to implement the crypto travel rule, Africa-based outlet Business Daily reported. The IMF recommended requiring virtual asset service providers, or VASPs, to collect and verify identifying information on cryptocurrency senders and recipients, share that information with one another, and provide it to Kenya’s Financial Reporting Centre, or FRC. Kenya has been on the Financial Action Task Force gray list since February 2024 amid shortcomings in its anti-money laundering and counter-terrorism financing framework.