The Capital Markets Authority of Kenya is seeking to acquire an advanced blockchain analytics platform as part of efforts to oversee the country’s rapidly growing cryptocurrency sector. The authority is moving forward with plans to license and supervise virtual asset companies, in line with a new regulatory framework taking shape.
Oversight steps after the new law
According to tender documents, the proposed system will track digital asset transactions, investigate suspicious activities, and monitor regulatory compliance. The platform is expected to follow transactions on Bitcoin, Ethereum, and at least 20 other blockchains both in real time and retrospectively.
As the national regulator for Kenya’s capital markets, the authority aims to bolster its technical capabilities to oversee crypto companies entering the licensing process. With the new platform, the agency looks to enhance scrutiny and ensure the sector operates within the law.
The analytics platform is designed to automatically flag high-risk wallets, large transfers, coin mixing services, addresses associated with the dark web, and entities or individuals on sanction lists. Additionally, all transactions will be screened against United Nations and US Office of Foreign Assets Control sanctions databases.
The system is intended to strengthen Kenya’s oversight of its virtual asset market by detecting high-risk wallets and unlicensed offshore platforms, according to the plan outlined.
Broader surveillance capacity
Documents show the tool will be capable of mapping relationships between wallets, reconstructing timelines of transactions, tracking cross-chain fund flows, and assigning risk scores related to money laundering, ransomware, fraud, and terrorism financing. The regulator also aims to identify which exchanges Kenyan users frequent and pinpoint unlicensed foreign platforms serving the domestic market.
Mini glossary: A coin mixer refers to a service that scrambles crypto transactions to obscure their origins. OFAC is the US Treasury’s sanctions enforcement agency.
The functionalities described closely resemble the offerings of blockchain intelligence firms such as Chainalysis, TRM Labs, and Elliptic, which provide similar compliance and monitoring solutions for regulators worldwide.
Crypto regulations enacted for the first time
This procurement process is directly linked to Kenya’s Virtual Asset Service Providers Act, signed by President William Ruto in October and entering into force in November 2025. For the first time, the law introduces a comprehensive legal framework to govern the country’s crypto sector.
Under the act, regulatory oversight is divided between two agencies. The Central Bank of Kenya will take responsibility for payments, stablecoins, and custodial wallets, while the Capital Markets Authority will cover exchanges, brokerages, investment advisors, and tokenization platforms. This approach aligns with anti-money laundering standards set out by the Financial Action Task Force.
No company has yet received a license, and existing operators must comply with the new rules by November 2026.
Kenya ranked among Africa’s leading markets
According to Chainalysis, Kenyan users acquired around $19 billion in crypto assets between July 2024 and June 2025, making Kenya the fourth largest crypto market on the continent. It is estimated that over six million Kenyans now use digital assets, with a significant portion of transactions conducted via peer-to-peer and informal channels.
Kenya’s move to enhance blockchain surveillance is part of a wider global trend. In the US, the Immigration and Customs Enforcement agency last year initiated procurements for forensic review software from both TRM Labs and Chainalysis, while the UK’s tax authority, HMRC, started collaborating with TRM Labs to track suspicious activities.
