Kenya's lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible tokens (NFTs) transfers and a 15% tax on monetized online content, according to a newly introduced bill.

Introduced to the Kenyan parliament on May 4, The Finance Bill, 2023 would enact a digital asset tax on “income derived from the transfer or exchange of digital assets” which also included specific language for NFTs.

The bill will undergo five rounds of readings, committees and reports by the National Assembly, if passed, it will then be passed to the president for final assent into law.