The IMF (International Monetary Fund) recommends that Kenya create a clear and predictable regulatory environment for the cryptocurrency market to protect consumers and address anti-money laundering (AML) and counter-terrorism financing (CFT) related risks. The IMF points out that Kenya currently relies on outdated regulations of traditional markets and lacks legally binding oversight of the crypto market, leading to an increase in crypto-related scams and criminal activities. The IMF advises Kenya to develop a cryptocurrency regulatory environment that aligns with international frameworks and standards while considering the unique challenges and opportunities of the local market, ensuring that the regulatory framework protects consumers, maintains financial stability, and promotes innovation. (Cointelegraph)