[Kenya Lowers Stablecoin Issuers' Minimum Paid-Up Capital Requirement by 40% to $2.32 Million] Odaily Planet Daily News: Kenya's National Treasury has reduced the minimum paid-up capital requirement for stablecoin issuers by 40%, to approximately $2.32 million, down from the nearly $3.9 million threshold outlined in the draft rules from March last year. Under the new regulations, the Central Bank of Kenya (CBK) will oversee stablecoin issuers and other virtual asset service providers, and may require local platforms to cease offering offshore-issued tokens. The framework mandates that at least 30% of customer funds be held in independent trust accounts at Kenyan commercial banks, with the remaining funds invested in qualified local assets. Fiat-backed stablecoin reserves must align with the pegged currency. Issuers are required to maintain $463,300 in liquid capital or the higher of 100% of liquid liabilities, and hold qualified reserve assets on a 1:1 basis. Issuers must also conduct quarterly stress tests, submit monthly reserve and transaction reports, and ensure customers can redeem tokens at face value within two business days.