The Financial Action Task Force asked Kenya to supervise cryptoassets, improve the quality of financial intelligence and increase prosecution of money laundering cases, Kenya’s Treasury said in a statement posted on X. The FATF also added Namibia and removed Uganda from the monitoring list. Nigeria, South Africa, Burkina Faso and Cameroon are among the African countries on the grey list. On average, it takes countries on the grey list five to 10 years to get themselves removed from it, according to Glacier Invest. However, it is very possible to reverse the decision in a shorter time. Mauritius is a good example, having been removed after less than two years on the grey list.

BLOOMBERG