The Kenya Revenue Authority (KRA) has been enhancing its efforts to track and tax various forms of digital transactions, including those involving cryptocurrency. With the increasing popularity of cryptocurrencies like Bitcoin and Ethereum, the KRA plans to integrate a new revenue system capable of tracking transactions linked with cryptocurrency exchanges. This system would allow KRA to monitor and possibly tax income generated from crypto trading, investments, and other related activities.

Cryptocurrency transactions have traditionally been harder to track due to their decentralized nature, but with growing global cooperation and the use of advanced technology, tax authorities are finding ways to bridge this gap. The move aligns with Kenya’s wider efforts to expand its tax base, especially in the digital economy.

If you’re involved in cryptocurrency transactions or planning to do so, it would be crucial to stay updated on KRA’s developments to ensure compliance with future regulations.