Rwanda has released a draft law to regulate virtual assets in the country, with the Capital Markets Authority (CMA) identified as the regulatory authority overseeing the industry. The move is aimed at fostering innovation while mitigating the risk of money laundering. The draft provides legal clarity and oversight for digital representations of real-world assets. The draft also prohibits the use of virtual assets as legal tender or for payment of goods and services within Rwanda. The CMA will be responsible for investigating crypto fraud once the regulations are approved.



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