Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin ATMs Appear in Nairobi Malls, Regulators Warn No VASPs Are Licensed Yet

Bitcoin ATMs Appear in Nairobi Malls, Regulators Warn No VASPs Are Licensed Yet

Coinpedia2025/11/19 22:54
By:Coinpedia
Story Highlights

Bitcoin ATMs have started appearing in some of Nairobi’s busiest malls, just days after Kenya’s new law on virtual assets came into effect. 

Advertisement

According to a local media outlet, Capital News , the bright orange “Bankless Bitcoin” machines can be seen at shopping centres in Gigiri, including Two Rivers Mall, Westlands, along Ngong Road. They now sit side by side with conventional bank ATMs, which reflects the push to make cryptocurrency part of mainstream retail spaces.

#keepspedn

Buy Bitcoin in Kenya at Two Rivers Mall ground floor next to Levi's store, minimum purchase amount is ksh 1 the machine has been installed by @BanklessBitcoin and only accepts on chain deposit and withdrawals from any wallet. https://t.co/dWBXPz8V7H pic.twitter.com/HFlG1lUEpb

— Bitcoin Nairobi (@btcnairobi) November 16, 2025

These kiosks allow users to buy and sell Bitcoin, bringing cash-to-crypto transactions into busy public spots. This comes just as Kenya’s new Virtual Assets Service Providers Act, 2025, took effect on 4 November. 

In a joint statement, the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) shared that the law sets out a legal framework for regulating and overseeing VASPs in Kenya and also outlines the responsibilities of VASPs to help prevent money laundering, terrorist financing, and the spread of illicit funds.

The Act designates CBK and CMA as joint regulators responsible for licensing, supervising and regulating VASPs in Kenya.

The National Treasury is now preparing detailed rules to operationalise the law, and the licensing of VASPs will only start once these regulations are issued.

Although the Bitcoin ATMs have appeared, the regulators warned that no VASPs have been officially approved yet, so any company claiming to be licensed is operating illegally. 

“Currently CBK and CMA have not licensed any VASPs under the Act to operate in or from Kenya,” the notice warned. 

Although these Bitcoin ATMs are among the most visible signs of crypto in Nairobi’s formal retail sector, Bitcoin has already been in use in the last few years in lower-income areas like Kibera. 

In Soweto West, a village within Kibera, the fintech startup Afrobit Africa started testing Bitcoin-denominated grants in 2022, helping local garbage collectors who often don’t have IDs, bank accounts, or access to mobile money.

After weekend clean-ups, workers in Kibera are paid small amounts of Bitcoin instead of shillings. AfriBit Africa estimates it has distributed around $10,000 this way. 

The co-founder, Ronnie Mdawida, says Bitcoin gives residents a way to hold value and achieve a form of “financial freedom” without documentation. This is especially meaningful for people living on about a dollar a day.

About 200 people in Soweto West now use Bitcoin, with some merchants and boda boda riders accepting payments in crypto. Many residents also see crypto as more efficient than Kenya’s mobile money system.

Bitcoin is gaining ground in Kenya, from Kibera’s streets to Nairobi’s malls. However, its volatility and the unclear rules have concerned regulators. The new law aims to regulate the sector, protect consumers and the financial system while encouraging innovation.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

The article analyzes the TGE performance of multiple blockchain projects, evaluating project performance using three dimensions: current price versus all-time high, time span, and liquidity-to-market cap ratio. Projects are then categorized into five grades: S, A, B, C, and D. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/11/28 16:26
2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

Russian households have invested 3.7 billion rubles in cryptocurrency derivatives, mainly dominated by a few large players. INTERPOL has listed cryptocurrency fraud as a global threat. Malicious Chrome extensions are stealing Solana funds. The UK has proposed new tax regulations for DeFi. Bitcoin surpasses $91,000. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.

MarsBit2025/11/28 16:26
Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

How much is ETH really worth? Hashed provides 10 different valuation methods in one go

After taking a weighted average, the fair price of ETH exceeds $4,700.

ForesightNews 速递2025/11/28 15:05
How much is ETH really worth? Hashed provides 10 different valuation methods in one go

Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost

People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.

深潮2025/11/28 14:53
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost