Rwanda approved a draft law to regulate cryptocurrencies and other digital assets, signalling its intention to build a clear legal framework for the fast-growing sector.
The proposal was approved during a Cabinet meeting chaired by the president on March 4. Authorities say the law aims to create a safer and more transparent environment for virtual assets while protecting consumers and investors.
According to the Ministry of Finance and Economic Planning, the proposed legislation is designed to strengthen market integrity and ensure fair practices in the digital asset ecosystem.
Virtual assets refer to digital representations of value that can be traded or transferred electronically and may be used for payment or investment purposes. They include cryptocurrencies and similar digital tokens.
However, the ministry clarified that virtual assets are different from digital versions of traditional currencies such as the Rwandan franc, the US dollar, or the euro.
Officials say the proposed law will help establish clear rules for the issuance, trading, and supervision of these assets in Rwanda.
Once enacted, the National Bank of Rwanda and the Capital Market Authority will issue detailed regulations. These rules will determine who is allowed to provide virtual asset services and how such companies will be licensed and monitored.
