Nairobi, Aug. 12 -- Kenyan cryptocurrency startups mull relocating their businesses abroad, spooked by the newly set minimum capital requirements that founders say are beyond the reach of many early-stage firms.

At least five startup founders who spoke to Business Daily said they are considering registration in South Africa or Mauritius, which they say have more accommodating regulatory regimes for early-stage businesses, if they fail to raise the required capital by the November 4 deadline.

"It could be possible to raise the funds, but it's very difficult. The process of raising funds is complex and takes time, so for many local builders, November is not a deadline; it's an expiry date," said Eric Michubu, founder of Taran App, which e...