{ "jurisdiction_id": "RW", "jurisdiction": "Rwanda", "url": "https://cryptoassets.gi/jurisdictions/rwanda/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 26, "source_register": 9 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#crypto-licensing-crypto-licensing", "standing_position": "Rwanda enacted Law N° 023/2026 of 25/05/2026 Regulating Virtual Asset Business, published in the Official Gazette on 28 May 2026, which is now in force and designates the Capital Market Authority (CMA) as lead licensing regulator (BNR retains a narrower financial-stability/payment-systems role). Only incorporated legal entities may be licensed to provide virtual asset services; individuals are barred from operating such businesses. Detailed implementing regulations (licensing procedure, fit-and-proper standards, capital and liquidity requirements) had not been published as of the research date, so granular licensing mechanics remain pending even though the enabling statute is in force. Certain activities (mining, VA ATMs, mixer/tumbler services) are prohibited absent express CMA approval, and unauthorised operation already carries enforceable criminal penalties.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "token_classification", "name": "Token Classification", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#token-classification-token-classification", "standing_position": "The law does not adopt an EU-MiCA-style ART/EMT taxonomy; instead it defines 'virtual asset' broadly while expressly carving out fiat currencies (including the Rwandan Franc), algorithmic stablecoins, privacy-focused cryptocurrencies, NFTs, central bank digital currencies and certain securities-regulated instruments from the licensing regime. Reserve-backed stablecoins and tokenised real-world assets are addressed with specific conditions (collateralisation, custody, audit) rather than being left as a residual 'utility token' catch-all.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "The law directly addresses tokenisation of real-world assets and prohibits mining operations absent CMA approval; it is silent in publicly available secondary reporting on staking, DeFi lending, DEX activity, node operation, or validator services, which are presumed to fall under the general licensing perimeter but lack activity-specific rules pending implementing regulations.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#stablecoin-regime-stablecoin-regime", "standing_position": "Law N° 023/2026 provides Rwanda's first stablecoin-specific rules: issuers must segregate reserve assets from company funds, publicly disclose proof of reserves, and stablecoin holders rank ahead of general creditors on issuer insolvency. Algorithmic stablecoins are excluded from the licensing perimeter entirely. Systemic-risk oversight of stablecoin activity sits with BNR alongside CMA's licensing lead. Detailed prudential thresholds (minimum reserve ratios, redemption timelines) are not yet published.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#consumer-protection-consumer-protection", "standing_position": "The law introduces consumer-facing safeguards: marketing of virtual asset services is restricted to licensed providers or approved issuers, tokenised-asset custody must sit with licensed custodians, and reserve/audit disclosure requirements function as a risk-disclosure mechanism for stablecoin products. Dedicated complaint-handling and suitability/appropriateness rules for retail investors were not identified in available secondary sources and likely await implementing regulations.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#tax-treatment-tax-treatment", "standing_position": "No crypto-specific tax statute or Rwanda Revenue Authority (RRA) guidance on capital gains, income tax, VAT or withholding treatment of virtual asset transactions was identified as of the research date. Rwanda's general VAT/digital-services rules (e.g., new VAT collection mechanisms for foreign digital service providers) are in force but were not confirmed to specifically address virtual asset trading or issuance. Tax treatment of virtual assets under Law N° 023/2026 therefore remains an open, unresolved question pending RRA guidance.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#cross-border-transfer-cross-border-transfer", "standing_position": "Virtual assets remain non-legal-tender in Rwanda under Law N° 023/2026 and cannot be used as a direct means of payment — including for cross-border payment purposes — unless specifically authorised by the National Bank of Rwanda. No dedicated crypto cross-border reporting-threshold or travel-rule-crossborder regime was identified in public secondary sources at the research date; these likely fall to the shared FIM aml_ctf module and/or pending implementing regulations.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/rwanda/#aml-cft-regime-aml-cft-regime", "standing_position": "Crypto AML/CFT obligations are governed under the fleet's shared Financial Integrity Module (FIM aml_ctf) subscription; this consumer baseline does not independently emit AML/CFT claims. For disambiguation context only: the Financial Intelligence Centre (FIC) is reported to remain the central AML/CFT/CPF enforcement body alongside the new virtual-asset law's CMA/BNR licensing architecture, and Rwanda's National AML/CFT/CPF Policy 2025-2029 was published by CMA on 8 June 2026. No claims are emitted in this module per fleet module-subscription rules.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] } ] }