Kenya has collected over $77 million in taxes from 384 cryptocurrency traders

ChainCatcher news, the Director of the Kenya Revenue Authority (KRA), Anthony Mwaura, recently revealed that the Kenyan government collected approximately $77 million (10 billion Kenyan Shillings) in taxes from 384 cryptocurrency traders in the 2023-24 fiscal year.

The KRA plans to collect over $465 million in taxes solely from cryptocurrency traders. Overall, the agency aims to collect $15.88 billion in taxes over the next five years, with the crypto industry being viewed as a significant tax target for the Kenyan government.