ChainCatcher news, the Director of the Kenya Revenue Authority (KRA), Anthony Mwaura, recently revealed that the Kenyan government collected approximately $77 million (10 billion Kenyan Shillings) in taxes from 384 cryptocurrency traders in the 2023-24 fiscal year.The KRA plans to collect over $465 million in taxes solely from cryptocurrency traders. Overall, the agency aims to collect $15.88 billion in taxes over the next five years, with the crypto industry being viewed as a significant tax target for the Kenyan government.

ChainCatcher news, according to Bitcoin.com, the Kenya Revenue Authority (KRA) has proposed the establishment of a tax system integrated with cryptocurrency trading platforms for real-time monitoring of transactions. Under this system, the KRA will capture key information for each transaction, such as transaction time and value.The tax department stated that the current system cannot track cryptocurrency transactions, leading to significant tax revenue loss. The tax department also cited Section 3 of the Kenyan Income Tax Act, which allows for taxation of cryptocurrency income. A tax official in Kenya stated, "Our goal is to establish a robust and efficient system to effectively collect cryptocurrency taxes."In addition to the real-time tax system, Kenya is also considering the use of artificial intelligence (AI) and machine learning technologies to detect tax evasion. These technologies are expected to optimize the tax administration processes of the Kenya Revenue Authority and improve transparency.

ChainCatcher news, encrypted fund issuer Valour has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and the financial instrument issuance platform SovFi to issue and trade digital asset exchange-traded products (ETP) on the Kenya NSE.

ChainCatcher news, according to Cointelegraph, based on the official statement from the Directorate of Criminal Investigations (DCI), the Kenyan police have dropped their investigation into Worldcoin.The statement dated June 14, 2024, responded to a request from Worldcoin's lawyers for an update on the status of the investigation submitted in May 2024. According to the DCI, the Kenyan prosecution department agreed and ordered the closure of the Worldcoin case, and the police are not required to take further action.The agency stated: "The DCI conducted a swift and objective investigation into a series of allegations regarding Worldcoin's activities in Kenya in March 2022, which involved accusations of illegal collection and transfer of personal sensitive data."

ChainCatcher news, Bitcoin (BTC) mining company Marathon Digital (MARA) reached an agreement with the Kenyan Ministry of Energy and Petroleum on Friday to invest over $80 million in developing the energy infrastructure of the African nation. Marathon CEO Fred Thiel stated that the goal of this collaboration is "to monetize Kenya's underutilized energy and jointly develop technological projects," and this investment will be used for green data centers. The funding will include foreign investment, but the sources of the funds were not specified. The joint venture is expected to bring economic benefits to the Kenyan economy and generate revenue for the local energy industry ecosystem.

ChainCatcher news, according to CoinDesk, mining company Marathon Digital has held talks with Kenyan government departments to help manage the country's renewable energy through mining and assist in researching its cryptocurrency framework.Marathon Digital's Vice President of Government Affairs, Jayson Browder, stated, "We have been working closely with the Kenyan government to explore how to optimize renewable energy assets and monetize them."

ChainCatcher news, Kenyan President William Ruto announced that the government has appointed Bitcoin miner Marathon Digital as an advisor to consult with the Ministry of Finance and the Ministry of Energy on cryptocurrency regulations.Marathon Digital will discuss energy demands related to cryptocurrency mining with the Ministry of Energy.

According to ChainCatcher news, as reported by CoinDesk, the wife of Binance executive Nadeem Anjarwalla has denied reports regarding his arrest in Kenya and subsequent extradition back to Nigeria. Previously, it was reported that Nigerian authorities had located Anjarwalla in Kenya and were working with Kenyan authorities to bring the executive back to Nigeria.It is reported that in February of this year, Anjarwalla was detained along with another Binance executive, Tigran Gambaryan, as Nigerian authorities accused the cryptocurrency exchange of manipulating local exchange rates, tax evasion, and money laundering. Anjarwalla, who holds dual citizenship in the UK and Kenya, escaped the country in March using a concealed Kenyan passport.

ChainCatcher news, according to Bitcoin.com, a report suggests that Worldcoin representatives may have reached an agreement with Kenyan authorities to allow the iris biometric cryptocurrency project to resume operations under new guidelines. The report cites unnamed sources as saying that this could happen sometime in early 2024.

ChainCatcher news, according to Kenya's Business Daily, the 2023 Capital Markets (Amendment) Bill has been approved by the National Assembly's Finance and National Planning Committee. The bill defines crypto assets as securities and plans to impose capital gains tax on them. The bill will next be submitted to the lower house of Parliament.It is reported that the bill will tax cryptocurrency assets held in exchanges and digital wallets. Banks will deduct 20% value-added tax from all commissions and fees charged on transactions. If the bill is passed, Kenyan citizens will be obligated to declare all their cryptocurrency assets and their value in Kenyan Shillings to the Kenya Revenue Authority.

ChainCatcher news, according to local media reports, a special committee investigating the Worldcoin incident in Kenya recently stated in a report submitted to lawmakers that Worldcoin's actions "constitute espionage and pose a threat to national status," and hopes that the Criminal Investigation Department will investigate two related foreign companies, Tools for Humanity (TFH) Corp and Tools for Humanity (TFH) GmbH, for allegedly operating illegally in Kenya.These companies are believed to have violated several Kenyan laws, including the Data Protection Act, the Consumer Protection Act, and the Computer Misuse and Cybercrimes Act. The investigation found that neither company appeared in Kenya's business registration service database, indicating a lack of legal authorization to operate in Kenya.Previous report, in September, the Kenyan Cabinet Secretary for Interior claimed that U.S. authorities prevented the country from detaining several American citizens who held executive positions in the cryptocurrency project Worldcoin. Alex Blania, co-founder and CEO of Worldcoin, and his chief legal advisor Thomas Scott were among those arrested by Kenyan authorities at Nairobi airport.

ChainCatcher news, Kenya's Interior Cabinet Secretary Kithure Kindiki claimed that U.S. authorities prevented the country from detaining several American citizens who are executives of the cryptocurrency project Worldcoin.A spokesperson for Worldcoin's parent company confirmed to local media Nation that Worldcoin co-founder and CEO Alex Blania and its chief legal officer Thomas Scott were among those arrested by Kenyan authorities at Nairobi airport. During a committee hearing, Kindiki stated that the U.S. blocked authorities from detaining these individuals because Blania, Scott, and other Worldcoin executives have not yet "been convicted."It is reported that Kenya decided to ban the operation of the Worldcoin project on August 2 and established an independent committee to investigate its impact.

ChainCatcher news, according to Bitcoin.com, Worldcoin's parent company Tools for Humanity CEO Alex Blania stated in the East African parliament that they have funded $4.8 million for cryptocurrency and blockchain education in Kenya.However, according to The Star, Tools for Humanity is not directly involved in the educational work but is collaborating with local universities, blockchain associations, and other organizations.In addition, Alex Blania denied claims that WorldCoin plans to sell user biometric data obtained through iris scans.

ChainCatcher news, according to local media in Kenya, the Kenyan government has established a parliamentary committee consisting of 15 members to investigate Worldcoin. The Speaker of the National Assembly of Kenya, Moses Wetangula, stated that the committee has 42 days to conduct the investigation and must report to the House afterward. Kenya's Interior Minister, Kindiki Kithure, revealed that relevant security, financial services, and protective agencies have begun inquiries and investigations to determine the legality of Worldcoin's activities.

ChainCatcher news, according to a report by TechCrunch, a letter sent to Worldcoin's parent company Tools for Humanity shows that the Office of the Data Protection Commissioner (ODPC) in Kenya ordered it to stop conducting iris scans as well as facial recognition and other personal data collection in May. The letter indicates that the agency failed to inform individuals about the data security and privacy measures taken, as well as how the collected data would be used or processed.

ChainCatcher news, according to local media in Kenya, the Kenyan police raided Worldcoin's office in the country last Saturday and confiscated machines that the police believed were collecting user data. The police took this data to the headquarters of the Criminal Investigation Department for analysis. It was reported that the raid was conducted under the supervision of Kenya's Data Protection Commissioner Immaculate Kassait, who stated that Worldcoin's parent company Tools for Humanity failed to disclose its true intentions during the registration process.

ChainCatcher news, according to TechCrunch, Sam Altman's cryptocurrency startup Worldcoin has stated that it is working with the relevant authorities and will soon resume iris scanning in Kenya.ChainCatcher previously reported that the Kenyan Ministry of Interior issued a statement on Facebook stating that the department has suspended local activities related to Worldcoin. Its minister, Kithure Kindiki, expressed concerns about the government's collection of citizens' iris data, and relevant economic, security, and data protection agencies have begun investigations to determine the project's legality and data protection.

ChainCatcher news, according to The Block, Worldcoin has confirmed that it has temporarily suspended its services in Kenya after receiving a suspension notice from the Kenyan government yesterday. A spokesperson for the Worldcoin Foundation stated that the verification services have been temporarily halted out of caution and to reduce the number of people gathering. There is significant demand for its verification services in Kenya, with thousands of people waiting in line to obtain a World ID.Earlier, ChainCatcher reported that, according to a statement posted on the Facebook page of the Kenyan Ministry of Interior, the Kenyan government has suspended the operations of the identity crypto protocol Worldcoin, co-founded by OpenAI co-founder Sam Altman. The statement mentioned that the government is concerned about an organization called "WORLD COIN" that is conducting citizen registration activities by collecting eye/iris data. Relevant financial, security, and data protection agencies have begun investigations to determine the legality of the project and the status of data protection.

According to ChainCatcher news, as reported by CoinDesk, the Kenyan Ministry of Interior issued a statement on Facebook stating that it has suspended local activities related to Worldcoin. Its minister, Kithure Kindiki, expressed concerns about the government's collection of citizens' iris data, and relevant economic, security, and data protection agencies have begun investigations to determine the legality of the project and data protection.