Crypto was not an election issue in Kenya, but the local community hopes President-Elect William Ruto will be more accommodative to the industry than his predecessor. amitoj reports
Kenya President-Elect William Ruto is"assumed" to be a better hope for the crypto community in Kenya than the losing candidate Raila Odinga, according to local crypto experts.
It is important for the region as the nation leads Africa in crypto adoption and was recently ranked fifth globally for adoption by the United Nations Conference on Trade and Development . The report by the UN affiliate said that 8.5% of Kenya's population own cryptocurrencies and that's ahead of the 8.3% that own crypto in the United States.
Rufas Kamau, a research and markets analyst, stated that in addition to his age, Ruto's youth-friendly campaign in which he coined the phrase"hustler nation" could mean he has a positive outlook on crypto. Yvonne Kagondu, the founder of Kenya Blockchain Ladies, said that she wasn't sure which result would have been better, though one of Ruto's key policies is to appoint a gender-balanced cabinet.
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