Court upholds Safaricom's decision to suspend BitPesa

The cryptocurrency debate has been concluded ( for now) as the court upheld Safaricom's decision to suspend Bitpesa http://www.nation.co.ke/business/safaricom-suspends-companyies/-/996/2998070...

*“It would appear to me that Safaricom was justified in ensuring that its own licence was not ultimately questioned or put in jeopardy for so long as the CBK had failed or neglected to put its (Safaricom) fears to rest,” ruled judge Onguto.* So the problem lies with CBK not making it's stance clear on virtual currencies? Which meant Safaricom had no choice but to protect itself by suspending the services until regulations are laid down... or is there more to this. Regards, John K. On 16 December 2015 at 10:34, Joseph Koech via skunkworks < skunkworks@lists.my.co.ke> wrote:
The cryptocurrency debate has been concluded ( for now) as the court upheld Safaricom's decision to suspend Bitpesa
http://www.nation.co.ke/business/safaricom-suspends-companyies/-/996/2998070...
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This would make sense seated where the Safaricom lawyers are viewing this from. Later on CBK could disown and say they never authorized such services. Where is Prof. Ndungu when you need him. On Wed, Dec 16, 2015 at 10:48 AM, John K. via skunkworks < skunkworks@lists.my.co.ke> wrote:
*“It would appear to me that Safaricom was justified in ensuring that its own licence was not ultimately questioned or put in jeopardy for so long as the CBK had failed or neglected to put its (Safaricom) fears to rest,” ruled judge Onguto.*
So the problem lies with CBK not making it's stance clear on virtual currencies? Which meant Safaricom had no choice but to protect itself by suspending the services until regulations are laid down... or is there more to this.
Regards, John K.
On 16 December 2015 at 10:34, Joseph Koech via skunkworks < skunkworks@lists.my.co.ke> wrote:
The cryptocurrency debate has been concluded ( for now) as the court upheld Safaricom's decision to suspend Bitpesa
http://www.nation.co.ke/business/safaricom-suspends-companyies/-/996/2998070...
_______________________________________________ skunkworks mailing list skunkworks@lists.my.co.ke ------------ List info, subscribe/unsubscribe http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------
Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke
_______________________________________________ skunkworks mailing list skunkworks@lists.my.co.ke ------------ List info, subscribe/unsubscribe http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------
Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke
-- Regards, Mark Mwangi markmwangi.me.ke
participants (3)
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John K.
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Joseph Koech
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Mark Mwangi