The International Monetary Fund (IMF) has recommended that Kenya overhaul its cryptocurrency regulations to establish a transparent, reliable framework. The agency highlighted the country’s outdated financial rules that inadequately cover digital assets, leading to increased vulnerability to scams and illicit financial activities.

During a visit in Nairobi, IMF experts noted a lack of consensus among Kenyan legislators on crypto regulation. They emphasized the need for Kenya to define clear legal terms, align its rules with international anti-money laundering (AML) and counter-terrorism financing (CFT) standards, and learn from global frameworks like the Bali Fintech Agenda and Financial Stability Board guidelines.

The IMF’s recommendations include short-term steps—conducting empirical market studies, enhancing coordination among regulators, and clarifying the legal scope of crypto assets. They also proposed mid- to long-term measures, such as licensing virtual asset service providers (VASPs), establishing robust supervisory bodies, and ensuring consistency in legal terminology.

Ultimately, the IMF stressed that Kenya should engage with international regulatory counterparts to better oversee cross-border exchanges, protect consumers, and promote financial innovation without sacrificing market stability.

Institutional investors funneled $296 million into Ethereum-focused funds over the past week, marking the largest weekly inflow since the U.S. presidential election in November. With these inflows, Ethereum has overtaken Bitcoin in terms of weekly gains in crypto investment vehicles.

The surge is part of a broader upswing in crypto asset allocations. Digital asset funds logged a total of $7.05 billion in net inflows during May, pushing crypto fund holdings to a record $167 billion. Within this, Bitcoin funds gathered $5.5 billion while Ethereum products attracted $890 million.

Analysts point to growing interest in Ethereum as it reels in capital seeking exposure to DeFi, smart contracts, and next‑generation blockchain infrastructure. Over the last 30 days, Ether’s price trended upward, and its ETH/BTC valuation ratio strengthened considerably.

Recent inflows into Ethereum products appear driven by supportive macroeconomic signals, improved technical price patterns, and rising adoption of spot Ether exchange‑traded funds (ETFs). Meanwhile, Bitcoin-focused funds saw outflows totaling around $56.5 million.

Retailers across Bolivia are now quoting prices in Tether’s USDT stablecoin for everyday goods like chocolates, sunglasses, and snacks, according to Tether CTO Paolo Ardoino.

The shift reflects growing reliance on stable digital currency as Bolivians seek protection against volatility in the boliviano, with USDT providing a more predictable value for both consumers and merchants.

Ardoino highlighted that using digital dollars at the point of sale offers practical advantages for everyday shoppers, and analysts suggest this could serve as a model for other countries facing currency instability.

This development builds on earlier steps toward crypto integration in Bolivia—most notably, the launch of USDT custody services by Banco Bisa in October 2024, under the oversight of the country’s financial regulator.