The crypto companies from Kenya unite against the authorities in a battle against the tax bottlenecks they suffer. They are putting up all their might in this last stand against the government. Why is this the last stand, probably?
They say that revenue funds will be exhausted quickly at this tax rate. So, there are chances that other nations might not support the 3% digital asset tax in Kenya.
What’s the Crypto Tribe Planning In Kenya?
According to the crypto tribe in Kenya, a global firm may be able to help the government overcome the odds it might face at this rate.
So, they are planning to recruit global firms like PwC to support their arguments!
The Main Scoop
The recent MariBlock release says that Kenyan businesses can go silent if the government doesn’t do anything about the high tax rate here. Leaders like Luno and Busha lead a conglomerate. According to them, a major tax consultant like PwC should be in charge of evaluating their demands.
Now they are planning to launch a legal tussle as well. Firstly, they are running a fundraising campaign. So far, the campaign has raised around $6,000. They are now pledging a goal of $15,000. They assume that amassing this amount will help them to launch their legal challenge against the taxation policy!
The Nairobi Securities Exchange plans to launch a DeFi tech to launch the Denyan Digital Exchange. After it’s launched, the trade of digital assets, including risk on assets like crypto, may gain traction. We’ll have to wait and watch what happens at the end of both verticals!
