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A public survey on virtual assets is being launched by the Kenya Financial Reporting Centre (FRC).

A fresh anonymous survey on virtual assets and service providers in the nation has been released by the Kenya Financial Reporting Centre (FRC).

According to the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) 2009, the FRC is a government organisation whose main goals are to help identify the proceeds of crime and combat money laundering.

The FRC claims that in order to assist promote a thriving, legal, and secure financial environment for the general people, it has collaborated with other governmental agencies, the corporate sector, and stakeholders in the cryptocurrency industry to develop the survey on crypto assets in Kenya.

Please help us by answering the following questions as truthfully as you can. Every piece of information supplied is 100% anonymous and cannot be used to identify you. It will only be utilised to influence policy choices pertaining to Kenya’s cryptocurrency business. The Centre appreciates your involvement and anticipates hearing from you by September 8, 2023. – Centre for Financial Reporting

Among the questions in the survey include:

Are you familiar with virtual assets (e.g. Bitcoin, Ethereum etc.) and virtual asset service providers (e.g. Binance, Coinbase, Luno etc.)?
How do you store your crypto assets?
If self-custody, what type of wallet?
Please list the provider(s) or name of the wallets where you are currently storing or previously stored your virtual assets or cryptocurrencies?
Please select the DeFi services that you use.
Please list any DeFi applications that you use.
Do you use any stablecoin? If yes, please list. If no, indicate N/A
Have you ever used virtual assets or crypto assets to trade or invest in the metaverse or virtual games?
What measures have your service providers put in place to protect against hacking, fraud, and other security breaches in the platforms used?
Apart from Ponzi schemes and scams, what other criminal activities may be carried out using virtual assets?
Have you or someone you know been scammed when engaging in virtual assets or crypto assets?
Apart from Ponzi schemes and scams, what other criminal activities may be carried out using virtual assets?
Have you ever accessed the dark web to get information on crypto, buy or sell?
Have you invested in any Initial Coin Offerings (ICOs)/Initial Token Offerings (ITOs)?

The FRC claims that cryptocurrency can be used for cybercrime, money laundering, and funding terrorism and nuclear proliferation.

Due to the aforementioned, Kenyan regulatory bodies have intensified efforts in recent months to establish crypto regulation.

Note: The survey will be closed on September 8, 2023.

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