John Mbadi, Cabinet Secretary for the Ministry of Finance in Kenya, stated on Friday that Kenya is preparing to legalize cryptocurrency, marking a significant shift in the government's position. While Kenya has banned the use of cryptocurrencies, the public continues to widely use them underground to circumvent restrictions. Mbadi stated in a statement outlining the new policy, "The emergence and development of virtual assets and virtual asset service providers have brought innovation, vitality, opportunities, and challenges to the local and international financial system."