Kenya's Markets Regulator Moves to Procure Blockchain Surveillance Tools as Crypto Rules Take Effect

Kenya's Capital Markets Authority (CMA) is seeking advanced blockchain surveillance technology as the country rolls out its first comprehensive cryptocurrency regulatory framework. Tender documents reviewed by Capital FM Africa show the CMA wants a blockchain analytics platform that can monitor Bitcoin, Ethereum and at least 20 additional blockchains, both in real time and retrospectively. The system would issue automated alerts on high-risk wallets, large transfers, coin mixers, darknet-linked addresses and sanctioned entities, while screening activity against United Nations and U.S. Office of Foreign Assets Control (OFAC) sanctions lists. Beyond basic flagging, the regulator is looking for capabilities to map wallet relationships, rebuild transaction timelines, trace funds across multiple chains and generate risk scores tied to money laundering, ransomware, fraud and terrorism financing. The CMA also wants tools to identify the exchanges most used by Kenyans and detect unlicensed offshore platforms serving the domestic market—features commonly associated with blockchain intelligence providers such as Chainalysis, TRM Labs and Elliptic. The procurement comes as Kenya implements the Virtual Assets Service Providers Act, signed by President William Ruto in October and effective from November. Under the law's split supervisory structure, the Central Bank of Kenya will oversee payments, stablecoins and custodial wallets, while the CMA will regulate exchanges, brokers, investment advisers and tokenization platforms. The initiative forms part of Kenya's effort to align with Financial Action Task Force (FATF) anti-money-laundering standards. No virtual asset service providers have yet been licensed under the new regime. The National Treasury issued draft regulations in March, and existing operators have until November 2026 to meet the new compliance requirements. Kenya is already one of Africa's largest crypto markets. Chainalysis estimates residents received about $19 billion in crypto between July 2024 and June 2025, ranking the country fourth on the continent. Industry estimates put the number of crypto users at more than six million, with a significant share of activity running through informal peer-to-peer channels—a pattern regulators say underscores the need for stronger monitoring tools. Kenya's tender follows a broader global trend. U.S. agencies, including Immigration and Customs Enforcement, moved last year to procure blockchain forensics tools from TRM Labs and Chainalysis, which also work with the FBI, DEA and IRS. Britain's HMRC has similarly engaged TRM Labs to help trace suspicious transactions. Kenyan authorities are now signaling they want comparable capabilities as oversight of the country's fast-growing digital asset ecosystem ramps up.