[Kenya prepares legislation to legalize cryptocurrencies] Kenya is preparing legislation to legalize cryptocurrencies, according to Golden Finance, according to Kenyan Finance Cabinet Secretary John Mbadi on Friday, marking a major shift in the government's position. Kenya bans the use of cryptocurrencies, but the public still uses them widely underground to circumvent restrictions. "The emergence and development of virtual assets and virtual asset service providers have brought innovation, dynamic opportunities and challenges to the local and international financial systems," Mbadi said in a statement outlining the new policy.