Kenya's National Treasury has released revised regulatory rules, lowering the minimum paid-up capital requirement for stablecoin issuers by 40%, from nearly $3.9 million in the previous draft to approximately $2.32 million. The move aims to encourage global issuers to enter its crypto market. Meanwhile, the new regulations grant Kenya's Central Bank extensive regulatory authority. Regarding reserves, stablecoins must be backed by compliant assets at a 1:1 ratio, with at least 30% of customer funds required to be held in segregated trust accounts at Kenyan commercial banks. Additionally, the new rules prohibit issuers from offering interest or similar reward mechanisms, mandate quarterly stress tests, submission of monthly reports, and ensure customers can redeem tokens at face value within two business days. (Bitcoin.com) https://(wublock123.com)/news/kenya-lowers-stablecoin-issuer-capital-requirement-40pct-to-2-32m-65454