Rwanda seeks public input on draft law to regulate virtual asset businesses

The Capital Market Authority (CMA) and the National Bank of Rwanda (NBR) have announced a public consultation on the draft Law Regulating Virtual Assets Business in Rwanda. The proposed legislation aims to establish a comprehensive legal framework for cryptocurrency and digital asset operations, addressing key risks identified in the recent National Risk Assessment of Virtual Assets and Virtual Asset Service Providers (VASPs).

The draft law introduces licensing requirements, compliance obligations, and consumer protection measures to ensure transparency, mitigate financial risks, and align with international standards. It also seeks to address concerns related to money laundering, terrorist financing, and fraud, while fostering a secure and innovative fintech ecosystem in Rwanda.

The CMA and NBR are inviting all stakeholders—including fintech experts, legal practitioners, bankers, payment industry participants, investors, and the general public—to review the draft law and submit their feedback. The consultation period will remain open until 14th March 2025.

The draft law is available for download on the CMA website.