According to BitJie, Bitcoin ATMs have appeared in major shopping malls in Nairobi just days after Kenya's 2025 Virtual Asset Service Providers (VASP) Act came into effect. The 'Bankless Bitcoin' machines allow cash-to-crypto transactions in public spaces. However, no VASP has yet been licensed by regulators, and any operator claiming to be licensed is operating illegally. The new law, effective November 4, establishes a legal framework for regulating VASPs to prevent money laundering and terrorism financing. The Central Bank of Kenya (CBK) and Capital Markets Authority (CMA) will jointly oversee VASPs, including cryptocurrency exchanges and digital wallets. Licensing will only begin after detailed regulations are finalized. Meanwhile, Bitcoin adoption is growing in low-income areas like Kibera, where fintech startup Afrobit Africa has been distributing small Bitcoin grants to waste collectors since 2022.
Bitcoin ATMs Appear in Nairobi Malls as Kenya's VASP Law Takes Effect
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