According to a recently published report, Kenya recorded 99,810 cryptocurrency-related searches over a 12-month period, indicating that there were 18 searches made per 10,000 individuals during the same timeframe.
This data makes Kenya the fourth country globally with the highest searches pertaining to the digital asset class. This would also mean that there is greater interest per capita in the country when compared to what is observed in Nigeria and South Africa.
The report also puts the number of individuals in Kenya holding cryptocurrency to approximately 4,580,760. Moreover, the study was also able to deduce that in terms of crypto awareness, Kenya scored 5.5 out of a possible 10.
Still skeptical about crypto
The report might indicate that there is a noticeable surging interest in cryptocurrencies among Kenyans, but that does not change the fact that the country’s government remains skeptical about the digital asset class.
In fact, despite all the impressive figures revealed by the study, Kenyan authorities, as well as the Central Bank of Kenya, continue to refuse recognizing cryptocurrencies.
This stern refusal and the uncertainty that comes with it are undeniably serving as hindrances in the potential growth of digital assets in the country, denying its citizens of the opportunity to take risks in trading and other activities that involve digital currencies.
Global movement against crypto
Kenya is not the only country that is maintaining a hard stance with regards to cryptocurrencies. There are other nations that are now imposing regulations, even bans, related to the asset class.
China, for example, has been on a rampaging crackdown against bitcoin miners following the government’s decision to prohibit mining for the crypto. Authorities say this is in preparation for their goal to attain carbon neutrality.
Russia is also keeping its doors closed on cryptocurrencies, now allowing them to be used as payment for goods and services within its territories.
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