Bitcoin ATMs Pop Up in Nairobi Malls Despite No Licensed Operators

Bitcoin ATMs have appeared in Nairobi malls after Kenya's new crypto law, but regulators warn no operator is licensed yet. The machines offer cash-to-crypto services, highlighting a gap between law and enforcement.

Bitcoin ATMs branded “Bankless Bitcoin” have appeared in major Nairobi shopping malls, including Two Rivers Mall, Westlands, and along Ngong Road, shortly after Kenya enacted its first comprehensive cryptocurrency law, the Virtual Assets Service Providers Act of 2025. These machines offer cash-to-crypto services and are located beside traditional banking kiosks, bringing cryptocurrency transactions into mainstream retail spaces. Despite the new law, Kenyan regulators, including the Central Bank of Kenya and the Capital Markets Authority, have issued warnings that no virtual asset service providers (VASPs) have been licensed under the new framework. The National Treasury is still preparing the detailed regulations required to begin the licensing process, and any company claiming to be authorized is operating illegally. This has created a visible gap, with crypto infrastructure expanding into public spaces while lacking official approval. The situation highlights both the growing interest in cryptocurrencies in Kenya and the regulatory challenges in ensuring consumer protection and legal compliance.