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{
    "id": 1506132,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1506132/?format=api",
    "text_counter": 458,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Hon. Temporary Speaker, I would like to thank the Members for their good contributions to the Bill. The clarifications they sought helped us to understand the Bill much better. I appreciate the remarks by Hon. Mayaka (CPA). I wish to notify you that the recognition of virtual and digital assets as legal tender in this Republic is a discussion that the Departmental Committee on Finance and National Planning is very well- versed on. We have proposed a Bill that is before the Parliamentary Budget Office and the Select Committee on Budget and Appropriations for money Bill certification. Therefore, when we come back from our long recess, we will table a Bill seeking to establish a virtual assets authority to regulate virtual assets in this country. We are the leaders in the use of virtual and digital assets across the continent. The only countries that are ahead of us are Nigeria and South Africa. Operationalising those assets in our country without a proper legal framework is a huge risk in terms of corruption and money laundering. Our country has always been a leader in terms of financial institutions and we will also be a leader in establishing a financial institution to manage virtual assets and digital currencies. Hon. Temporary Speaker, I beg to move that the House do agree with the Committee in the said Report. I also request Hon. Murwithania to second the Motion for agreement with the report of the Committee of the whole House."
}