Bitcoin ATMs Appear in Nairobi Amid New Crypto Regulations
- New Bitcoin ATMs branded “Bankless Bitcoin” have been installed in major malls across Nairobi.
- Kenya’s Virtual Assets Service Providers Act of 2025 came into effect on November 4, establishing a licensing framework for crypto services.
- The Central Bank of Kenya (CBK) and Capital Markets Authority (CMA) have not yet licensed any Virtual Asset Service Providers (VASPs) to operate legally.
- Currently, there are only two reported Bitcoin ATMs in Kenya, despite the recent influx of new machines.
- Bitcoin usage is particularly high in lower-income neighborhoods like Kibera, where it serves as an informal banking solution.
The emergence of Bitcoin ATMs highlights a growing crypto infrastructure in Kenya, even as regulators warn that no operators are authorized under current laws. This discrepancy raises concerns about compliance and enforcement within the country’s evolving cryptocurrency landscape.
With the installation of new Bitcoin ATMs alongside traditional banking kiosks, Kenya faces a challenge balancing innovation with regulatory oversight as no VASP has been licensed yet to operate legally.(Source)
