The Capital Markets Authority (CMA) is moving to bolster its oversight capabilities within the rapidly growing digital asset space. As the country rolls out its first comprehensive cryptocurrency regulatory framework, the CMA is seeking to procure advanced blockchain surveillance technology to monitor market activity and enforce compliance.
According to recent tender documents, the market regulator is looking to acquire a robust virtual assets blockchain analytics platform capable of monitoring Bitcoin, Ethereum, and at least 20 other blockchains. The system is expected to perform both real-time and retrospective tracking of crypto transactions, signaling the government’s commitment to curbing illicit financial activities in the sector.
To ensure market integrity and align with global Anti-Money Laundering (AML) and Financial Action Task Force (FATF) standards, the CMA’s envisioned platform will go far beyond basic transaction flagging. The authority requires a system capable of mapping complex wallet relationships, reconstructing transaction timelines, and tracing funds seamlessly across multiple blockchains.
Key features of the analytics tool will include the generation of automated alerts for high-risk wallets, unusually large transfers, and the use of coin mixers meant to obscure the source of funds. The platform will also be tasked with screening transactions against international watchlists, such as those maintained by the United Nations and the U.S. Office of Foreign Assets Control (OFAC), to flag darknet-linked addresses and sanctioned entities. Furthermore, the technology will assign risk scores to transactions linked to potential money laundering, fraud, ransomware, and terrorism financing.
Crucially, the CMA intends to use the platform to identify the most popular cryptocurrency exchanges utilized by Kenyan residents and sniff out unlicensed offshore platforms illegally serving the local market. These capabilities closely mirror high-end forensic products offered by global blockchain intelligence leaders like Chainalysis, TRM Labs, and Elliptic.
This technological procurement is a direct response to the implementation of Kenya’s Virtual Assets Service Providers (VASP) Act. The legislation creates a split supervisory model for the digital economy: the Central Bank of Kenya (CBK) is tasked with overseeing payments, stablecoins, and custodial wallets, while the CMA assumes regulatory responsibility for crypto exchanges, brokers, tokenization platforms, and investment advisers.
Draft regulations for the framework were published by the National Treasury earlier in the year, and existing virtual asset operators have been given a transition period up until November 2026 to fully comply with the new licensing and operational requirements. By deploying this analytics platform now, the CMA aims to have the digital infrastructure ready to actively monitor these entities once the grace period expires.
The push for enhanced surveillance stems from the sheer scale of cryptocurrency adoption in Kenya. The country currently ranks as a major crypto hub in Africa, placing fourth on the continent. Recent data indicates that Kenyan residents received approximately $19 billion in crypto between July 2024 and June 2025.