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{
    "id": 1507141,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1507141/?format=api",
    "text_counter": 189,
    "type": "speech",
    "speaker_name": "Sen. Cheruiyot",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 13165,
        "legal_name": "Aaron Kipkirui Cheruiyot",
        "slug": "aaron-cheruiyot"
    },
    "content": " I thank you, Mr. Deputy Speaker, Sir. That is very useful information. The reason why I wanted to know what the nominees said is to know his personal views. However, we need to know the CBK's position on cryptocurrency and virtual assets. They cannot continue to bury their heads in the sand. The country must be led into making a proper decision on it because Kenya is a lead innovator. We gave the world M-Pesa. How come we are being left behind when other countries innovate other things? If other countries had taken the kind of approach that we have taken on cryptocurrency on our own M-Pesa, then we would not be getting the global recognition that we are getting. The world is innovative in nature. We must appreciate and move with the tide and the times of the world. I, therefore, expect that in the next few months, the CBK shall be sending to Parliament a proposal. There have been conversations around Parliament on the same. I am aware that there was a Member of the National Assembly who was moving a Bill on cryptocurrency regulations. However, that is just a thought by a single Member of Parliament (MP). It is the CBK that gives the monetary policy of the country and guides the nation into making certain critical decisions from where they sit. We expect them to lead the charge on that front. I know that there are companies that engage in the trade of binary assets and the best they can get from both the CBK and the regulator of capital markets is a letter of no objection. That is not enough. We need to guide these institutions or companies and let The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}