SLS Projects, Theses and Dissertations

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Browsing SLS Projects, Theses and Dissertations by Author "Acomo, P. E."

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    Exploring cryptocurrency as an asset: can cryptocurrency be inherited?
    (Strathmore University, 2024) Acomo, P. E.
    The investment in and ownership of cryptocurrencies has become an emerging trend around the world especially in Kenya. Despite this, cryptocurrencies are not recognized or regulated under Kenyan law. As a result of this, a good number of Kenyans that consider cryptocurrencies as property are uncertain of what happens to their cryptocurrencies when they pass on. In addition to this, their beneficiaries are left stranded as to how to claim cryptoassets upon the death of the owners of the cryptoassets. This study discusses whether cryptocurrencies can be defined as legal property. It finds that cryptocurrency can indeed be defined as legal property. The study also considers the idea of creating a new separate category of property for cryptocurrencies that will encompass all of its unique features. The study employs the use of a qualitative research to examine the current legal framework of Kenya regarding the inheritance of cryptocurrencies. It finds that the current status of cryptocurrencies and their inheritance is not defined under the Kenyan legal framework. The study goes further to discuss whether Kenya should establish a legal framework that governs the inheritance of cryptocurrencies. It employs the use of a comparative analysis of the legal framework of the United States of America (USA) regarding the inheritance of cryptocurrencies to recommend that Kenya establishes a legal framework that governs the inheritance of cryptocurrencies. In order to establish this legal framework, the Kenyan government needs to tackle the issue of defining cryptocurrencies within the realm of property.