Kenya’s Revenue Authority To Track Crypto Transactions With Real-Time Tax System

Quick Summary:

Kenya Revenue Authority (KRA) announced its plan to switch its outdated system to a more efficient one as part of its tax system reform.

The new system, powered by emerging technologies, is set to track crypto transactions in real time to fight tax evasion and foster a "more transparent” organization.

The country has an estimated four million crypto users, with transactions valued at around $18.6 billion in 2022, as the regulators noted.

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: HungaryKenya

Topics: Crypto Market Kenyan authorities Btc Kenya crypto Crypto tax Crypto tax laws BTCUSDT Crypto News Crypto adoption Total Crypto regulation Kenya Revenue Authority (KRA) KRA

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 08:00:26 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 475 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23084536

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 12 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #105

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