- They appeared soon after the Virtual Assets Service Providers Act of 2025 took effect.
- CoinATMradar currently lists two Bitcoin ATMs in Kenya.
- The Central Bank of Kenya and the Capital Markets Authority say no VASP is licensed yet.
Bitcoin ATMs have surfaced across major shopping malls in Nairobi, only days after Kenya activated its first comprehensive crypto law, creating an unexpected test for regulators who have not yet authorised any crypto provider to operate.
The machines, branded Bankless Bitcoin, appeared beside traditional bank kiosks and offered cash to crypto services to shoppers.
Their arrival coincides with the early phase of Kenya’s Virtual Assets Service Providers Act of 2025, which came into effect on 4 November and set the first formal rules for crypto businesses.
Gaps in licensing
Local outlet Capital News confirmed that multiple malls in Nairobi had new machines installed, expanding beyond earlier attempts to introduce crypto ATMs in Kenya.
In 2018, The East African reported that BitClub deployed Bitcoin ATMs in the city, although the machines never reached mainstream retail spaces and adoption remained limited.
Kenya currently has two reported Bitcoin ATMs, making the latest installations notable for their placement in high-traffic commercial environments.
Regulators signal caution
The new law assigns oversight responsibilities to two regulators. The Central Bank of Kenya will handle payment and custody functions, while the Capital Markets Authority will regulate investment and trading activity.
However, the regulations required to begin licensing crypto firms have not yet been issued.
In a joint notice released on Tuesday, the Central Bank of Kenya and the Capital Markets Authority stated that they have not licensed any VASP to operate in or from Kenya under the new Act.
They also warned that companies claiming authorisation are doing so without approval.
The National Treasury is developing the regulatory framework that will decide when licensing can begin, placing operators in a temporary environment where the law exists but permissions do not.
This creates a visible gap. Bitcoin ATMs are entering public spaces even as regulators tell the public that no provider has met the requirements laid out in the law.
The contrast places pressure on authorities to clarify enforcement and could shape how crypto firms approach compliance in the near term.
Informal use grows
The spread of Bitcoin ATMs into high end malls highlights Kenya’s evolving crypto landscape.
Capital News reported that Bitcoin usage has long been active in lower income neighbourhoods such as Kibera, where residents use BTC as a form of banking in areas with limited access to formal financial services.
People have relied on crypto to store value without extensive documentation or traditional banking infrastructure.
The shift from informal areas to upscale malls suggests that consumer interest is expanding even while regulatory conditions remain unsettled.
The coexistence of visible infrastructure and incomplete licensing rules places Kenya at an early crossroads as it moves from a largely informal crypto market to a regulated one.
