Bitcoin ATMs appear in Nairobi malls as Kenya’s new crypto law takes effect regulators warn no operators are licensed yet

Bitcoin ATMs have been installed in several major malls across Nairobi just days after Kenya’s new Virtual Assets Service Providers (VASP) Act came into effect, creating an immediate regulatory test as no crypto operators have yet received licenses.

The machines — branded “Bankless Bitcoin” — can be found in prominent retail locations such as Two Rivers Mall, Westlands, and along Ngong Road, sitting alongside traditional bank ATMs. These kiosks allow cash-to-Bitcoin transactions, even though the regulators have confirmed that a licensing regime is not yet operational.

Kenya’s VASP Act, which took effect on 4 November 2025, sets out a formal licensing framework for virtual asset service providers. Oversight responsibilities are shared between the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA). However, the regulators issued a joint notice on 18 November stating that “currently CBK and CMA have not licensed any VASPs under the Act to operate in or from Kenya.”

This situation places Kenya at a regulatory crossroads. On one hand, crypto infrastructure is entering visible mainstream retail spaces; on the other hand, the regulatory system remains unfinished and companies operating now may be functioning illegally. For crypto businesses, payment providers and affiliates targeting the East African market, this signals both high opportunity and heightened risk — avoiding license non-compliance, navigating AML/KYC requirements and investor transparency will be critical.