Kenya plans to impose a 10% excise tax on crypto companies and charge high licensing fees

According to a report by Cryptopolitan, Kenya’s 2026 Finance Bill proposes a 10% consumption tax on virtual asset service providers, far higher than the 5% tax rate on the gambling industry. The bill requires crypto companies to pay a one-time licensing fee of 150 million Kenyan shillings and an annual renewal fee of 2 million Kenyan shillings before operating in Kenya, and to submit annual reports of user and transaction details to the Kenya Revenue Authority. GenZ-led protests have restarted in Nairobi and other locations, opposing policies that increase tax burdens, including those related to cryptocurrency.