REGULATION | IMF Reportedly Demanding Kenya Enforce Crypto Travel Rule to Curb Money Laundering, Terrorism Financing

The International Monetary Fund (IMF) has urged Kenya to require cryptocurrency service providers to collect, verify, and share customer identification information with receiving platforms and the Financial Reporting Centre (FRC) strengthening controls against money laundering and terrorism financing.

The proposal seeks to address a gap in Kenya’s implementation of the Financial Action Task Force (FATF) Travel Rule which requires virtual asset service providers (VASPs) to transmit information identifying the sender and recipient when processing cryptocurrency transfers.

CRYPTO CRIME | FATF Calls for Tougher Crypto AML Enforcement Following Travel Rule Implementation

The information could include customers’ names, account references, physical addresses, or national identification numbers, alongside wallet addresses.

The IMF recommends incorporating the requirements into Kenya’s Virtual Asset Service Provider regulations or another appropriate legal instrument without delay.

REGULATION | Kenya Government Reportedly Seeks to Implement ‘The Travel Rule’ by Identifying Crypto Owners in New VASP Bill

The push comes as Kenya’s cryptocurrency market expands.

Chainalysis data cited by a local business daily shows that crypto transactions reached ~KES 740 billion ($5.7 billion) in the year to June 2026, up 38% from ~KES 505 billion ($3.89 billion) a year earlier.