Bitcoin ATMs Make Their Way to Nairobi’s Malls
The cryptocurrency landscape in Kenya is evolving rapidly, with Bitcoin ATMs popping up across major shopping malls in Nairobi. These installations, branded as Bankless Bitcoin, have sparked interest, especially as they appear shortly after the implementation of the Virtual Assets Service Providers Act of 2025.
These ATMs offer shoppers the ability to convert cash into Bitcoin effortlessly, marking a significant step forward for Kenya’s crypto adoption. The move has been a welcome development for crypto enthusiasts and businesses looking to bridge the gap between traditional finance and digital currencies.
The Virtual Assets Service Providers Act: Kenya’s New Crypto Framework
On November 4, 2025, Kenya activated the Virtual Assets Service Providers Act, the country’s first comprehensive crypto regulation. This law assigns dual regulatory responsibilities to the Central Bank of Kenya (for payment and custody) and the Capital Markets Authority (for trading and investment).
However, as of now, no Virtual Asset Service Providers (VASPs) have been officially licensed. In a joint statement, the Central Bank of Kenya and the Capital Markets Authority cautioned that any entity claiming to be licensed is operating without permission. This gap in regulatory licensing has left Bitcoin ATMs in a somewhat gray legal area, despite their rising visibility.
Shaping Kenya’s Crypto Adoption
The ATM installations represent a shift in how cryptocurrencies are perceived in Kenya, extending their reach from low-income neighborhoods like Kibera, where Bitcoin has historically been used as an alternative banking tool, to more upscale commercial environments.
This shift not only highlights increasing consumer interest in cryptocurrencies but also underscores the need for regulatory clarity to boost confidence among businesses and users.
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Conclusion: The Road Ahead
Kenya stands at a critical juncture between informal crypto adoption and formal regulation. While Bitcoin ATMs in Nairobi malls symbolize progress, the lack of a finalized licensing framework leaves much to be desired. It will be fascinating to see how Kenya navigates these early days of crypto regulation and whether it sets a precedent for other African nations.
