Kenya's John Mbadi Denies New Crypto Taxes in Finance Bill 2026, Emphasizes Reporting Rules

Kenyan Treasury Cabinet Secretary John Mbadi said on May 25 that the Finance Bill 2026 does not add new taxes on cryptocurrency transactions, pushing back against rumors that also included claims of new levies on bread and digital content monetization. He said the bill's virtual-asset changes focus on closing regulatory gaps through reporting and record-keeping, while a KPMG technical review says expanded disclosure duties could raise compliance costs for VASPs and widen data-sharing mechanisms with foreign tax authorities.