IMF Tells Kenya to Enact Travel Rule for Crypto Transfers

Cointime update: The International Monetary Fund has urged Kenya to pass its Virtual Asset Service Providers regulations or other legislation to enforce the FATF travel rule, requiring crypto firms to collect, verify and share sender and receiver identity data on transfers. That data would be exchanged between providers and with Kenya’s Financial Reporting Centre. The IMF flagged major gaps in Kenya’s transfer information sharing versus FATF standards; Kenya has been on the FATF grey list since February 2024.