Business Daily | by Kelvin Mbithi
On February 10, 2022, the Central Bank of Kenya (CBK) released a discussion paper on Central Bank Digital Currency (CBDC) inviting comments from the public on the potential use of the CBDC in Kenya. The public has until May 20, 2022, to share their representations with the CBK.
The CBK discussion paper was released a day after the IMF issued a discussion paper on the same topic of CBDC. As the IMF discussion paper has interrogated the question of legal foundation, this piece will make some references to it.
This piece is drawn from the note prepared by the author to be shared with the CBK. Although the CBK does not commit itself to much in the discussion paper, there are some legal implications arising from the CBDC that are ripe for discussion…
