Nairobi, July 26 -- The Treasury has substantially cut its earlier proposed minimum capital for cryptocurrency firms by up to 40 percent, bowing to pressure amid warnings that steep charges would deter investments in the fast-rising segment.

New regulations published by Treasury Cabinet Secretary John Mbadi show that cryptocurrency operators are required to have a minimum paid-up capital of up to Sh300 million, marking a significant reduction from the earlier proposed limit of Sh500 million.

Stablecoin issuers have the highest minimum paid-up capital requirements of Sh300 million, down from the earlier proposed Sh500 million, while their liquid capital is set at Sh60 million or 100 percent of their current liabilities for at least 30day...