The International Monetary Fund (IMF) has released a technical report recommending that Kenya promptly revise its regulatory framework for cryptocurrency assets to address anti-money laundering (AML) and counter-terrorism financing (CFT) issues, and align with international standards. The IMF pointed out that Kenya currently relies on outdated regulations from traditional markets, lacking legal authority over the cryptocurrency market, which has led to an increase in crypto scams and related criminal activities. Recommendations include strengthening regulatory collaboration and education in the short term, establishing a clear legal framework and licensing system within the next 1-2 years, and enhancing cooperation with international regulatory bodies to ensure financial stability and promote innovative development. (Cointelegraph)