Internet reports that Kenya's proposed VASP (Virtual Asset Service Provider) bill has raised concerns among local crypto start-ups, warning that the bill may have too much influence on Binance-related lobbying groups, potentially undermining the country's digital asset industry. Fair competition. VAC is said to have hosted regulatory dialogues sponsored by Binance on many occasions and has its interests tied to it, and is now proposed to be included in the regulatory committee. Sources said Binance paid VAC $6,000 a month for policy lobbying, which may lead to new regulations tilting in Binance and weakening fair competition in the market. In response, the head of the VAC said that it has carried out two-year policy communication with the IMF, the Central Bank of Kenya and the Parliament, and has gained the trust of the country. Binance has not yet responded to this.