IMF urges Kenya to make crypto firms share customer data under Travel Rule

The International Monetary Fund (IMF) has urged Kenya to require cryptocurrency platforms to share customers’ identification details during digital asset transfers, as authorities work to strengthen anti-money laundering controls. Summary IMF recommends Kenya require cryptocurrency platforms to exchange identifying information during covered digital asset transfers. Proposed Travel Rule requirements cover customer names, identification details, account references and cryptocurrency wallet addresses. Kenya’s crypto regulations already require customer identification, while IMF recommends additional transaction information sharing obligations. Kenya remains on FATF’s grey list as authorities work toward their April 2027 removal target. Kenyan social media users discussed cryptocurrency scams and regulatory pressure following the IMF’s latest recommendations. According to the IMF’s November 6 technical assistance report, Kenya’s crypto regulations need stronger information-sharing requirements aligned with international standards. The proposed measures would require covered platforms to collect, verify and transmit identifying information about people sending and receiving cryptocurre...