[kictanet] Safaricom can now suspend Lipisha Consortium and Bitpesa Ltd services

[Grace Githaiga]

In light of today's debate on the notice issued by CBK on virtual currencies, here is an update of a related story
http://www.nation.co.ke/business/safaricom-suspends-companyies/-/996/2998070/-/131d2e5/-/index.html

Date: Tue, 15 Dec 2015 14:13:47 +0300
Subject: Re: [kictanet] Public Notice by CBK on Virtual Currencies
From: kictanet at lists.kictanet.or.ke
CC: ali at hussein.me.ke
To: ggithaiga at hotmail.com

Josiah
Umeongea kama wazee kumi! (spoken like 10 wise men!)

Ali HusseinPrincipalHussein & Associates+254 0713 601113 / 0770906375
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Sent from my iPad
On 15 Dec 2015, at 1:24 PM, Josiah Mugambi via kictanet <kictanet at lists.kictanet.or.ke> wrote:

BitPesa requires proof of identity before use. I found it quite lengthy and a tad tedious while signing up sometimes back. That somewhat takes care of KYC procedures though. 
I think CBK are obligated to make this position as a caveat emptor. An idea for them might be to use this case with BitPesa as a pilot with the view of coming up with regulations. Especially as cryptocurrencies are not going away any time soon.
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The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.

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