Bitcoin ATMs, branded ‘Bankless Bitcoin’, have been spotted inside Nairobi’s busy shopping centres, including Two Rivers Mall and the Westlands outlet along Ngong Road.
According to local reports, the orange machines are currently installed next to traditional bank ATMs, offering mall visitors quick cash exchange and sales options for Bitcoin.
The presence of kiosks has been in the spotlight as Kenya’s new Virtual Asset Service Providers Act has been introduced to coincide with its coming into force on November 4, 2025.
Regulatory authorities do not approve VASP approvals
A joint notice from the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA) highlights that the two institutions are yet to license VASPs under the new law.
Based on the report, the National Treasury is still drafting detailed regulations to begin the formal licensing process.
Until these restrictions are lifted, regulators warned that companies claiming to be licensed would be operating outside the law.
To buy Bitcoin in Kenya, visit the ground floor of Two Rivers Mall next to Levi’s Store and the minimum purchase amount is ksh 1. The machine is installed in the following way: @BanklessBitcoin We only accept on-chain deposits and wallet withdrawals. https://t.co/dWBXPz8V7H pic.twitter.com/HFlG1lUEpb
— Bitcoin Nairobi (@btcnairobi) November 16, 2025
Traditional mall machine used in grassroots
Outside of shopping centers, the use of cryptocurrencies is already being tested in low-income areas. Fintech group AfriBit Africa has launched trial Bitcoin payments in Soweto West, part of Kibera, in 2022, according to reports.
The project pays out small grants after weekend cleanups, and AfriBit says about $10,000 has been distributed so far. Approximately 200 people in that community now use Bitcoin for savings and payments, and some local shops and so-called “boda boda” (border-to-border) motorcycle riders also accept Bitcoin.
Project leaders describe holding value in Bitcoin as a form of financial freedom for people who often don’t have identification or bank accounts, especially those who live on about $1 a day.
ATMs bring quick access and big questions
Kiosks make buying and selling cryptocurrencies as easy as using a cash machine. That convenience also translates into immediate concerns about the operator, the type of identity verification used, and the handling of customer funds after each transaction.
Those details are not clear from published images or early reports. Bitcoin’s price fluctuations mean it can lose value quickly after someone buys it.
At the same time, the regulator said the law includes rules aimed at combating money laundering and terrorist financing, and names the CBK and CMA as joint supervisory authorities responsible for supervision.
Regulatory measures and consumer protection
The VASP Law sets out obligations for service providers once their license begins, including measures to prevent illicit financing.
Based on the report, the law aims to balance consumer protection with room for new services to operate under supervision.
Future Treasury regulations will determine how strict KYC requirements will be, what transaction restrictions will apply, and how oversight will be shared between the two agencies.
Featured image from Capital News, chart from TradingView
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