A comprehensive understanding of the burgeoning crypto space, demystifying ambiguity around the ‘transfer’ of digital assets and their classification needs to come first before imposing taxation. Whereas the growth of the industry has attracted the attention of the government, the Blockchain Association of Kenya calls for education, engagement, and a well-informed approach before imposing a 3% tax on crypto transfers.
The Kenyan government cannot have its cake and eat it. The Central Bank of Kenya has previously cautioned citizens against transacting in Bitcoin and other digital assets as they are not regulated nor legal tender in Kenya. However, the Central Bank mulls the possibility of introducing a Central Bank Digital Currency (CBDC) after inviting views from citizens. A CBDC is centralized whereas digital currencies are decentralized and not regulated by any central bank.
Elsewhere, the London Blockchain Conference 2023 kicked off on May 31 at the Queen Elizabeth II conference centre in London. Day 1 motto, ‘Bigger is Better’ was dedicated to the size and scalability of blockchain.
Talking of scaling, Adbank has not been left behind. Owing to Ethereum’s scaling capability, Adbank is now on Ethereum Layer 2 (polygon network) which allows community members to earn rewards at 10,000X lower gas fees. Consequently, Blade app users earn instant ADB rewards after completing and submitting microtasks.
Blockchain has immense benefits that continue to unfold every day. In 2022, Adbank launched the Blade Self-serve platform that allows individuals and businesses to grow their social media following with real (KYC-verified) followers within a short period. A step-by-step guide is illustrated here. Gain more followers, subscribers, or viewers today.
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