PANews June 29 news, according to Cointelegraph, some cryptocurrency startups have expressed concerns about Kenya's proposed Virtual Asset Service Provider (VASP) bill, warning that the bill could give excessive influence to lobbying groups associated with Binance, which could undermine fair competition in the country's digital asset industry. It is reported that a private think tank called the "Virtual Asset Chamber (VAC)" will be included in the regulatory committee established under the draft law. Some cryptocurrency stakeholders in Kenya claim that VAC conducted regulatory negotiations sponsored by Binance, lacked independence and acted as an agent of the exchange, lacked independence and acted as an agent of the exchange. It is reported that Binance pays VAC $6,000 per country per month for policy publicity on the grounds of a confidentiality agreement, which has raised market concerns that the lobbying group may distort Kenya's cryptocurrency rules to benefit Binance and exclude local players.