From Cointelegraph
June 29, 2025 5:27 am:

Kenya’s proposed VASP Bill raises concerns among crypto startups over the influence of Binance-linked lobby group VAC. Stakeholders fear unfair competition and conflict of interest in the country’s digital asset industry. Binance reportedly pays VAC $6,000 per country monthly for policy advocacy, sparking worries of skewed crypto regulation to favor the exchange.

Critics warn that VAC’s involvement could hinder Kenya’s efforts to move off FATF and EU greylists due to poor reputation and conflict of interest. VAC’s director defends the group’s role, citing consultations with IMF, CBK, and Parliament. The new regulatory body will also include representatives from National Treasury, CBK, CMA, lawyer, and accountant.

Binance deepens ties with global governments, signing MOU with Kyrgyzstan for crypto infrastructure. CEO Richard Teng reveals advising governments on strategic Bitcoin reserves and crypto policies. Former CEO Zhao named adviser to Pakistan’s Crypto Council overseeing blockchain and digital asset initiatives.

Read more at Cointelegraph: Kenya’s VASP Bill Sparks Fears of Binance-Backed Monopoly