Regulator: Capital Markets Authority of Rwanda (CMA)
Rwanda's draft Law Regulating Virtual Asset Business (released March 2025) establishes a comprehensive regulatory framework for stablecoins and virtual assets under the Capital Markets Authority's supervision. The law permits stablecoins, subject to identical stringent requirements: issuers must maintain 100% backing in verified reserve assets held by professional, licensed custodians in segregated accounts, obtain Regulatory Authority approval, employ accredited valuators, ensure reserves are liquid enough to cover all outstanding redemptions, comply with AML/CFT standards including customer due diligence and suspicious transaction reporting, and submit quarterly financial reports and audited statements to the CMA.
Applicable Laws:
Law Regulating Virtual Asset Business - https://bitcoinke.io/wp-content/uploads/2025/03/Draft-Law-Regulating-Virtual-Asset-Business-in-Rwanda-BitKE.pdf
Guideline for Virtual Asset Related Activities - https://www.minijust.gov.rw/index.php?t=f&f=111091&token=dea4c71948266e19cbaf43b9f6a80ab083e13b60
