Crypto Regulation in Rwanda
Rwanda has not currently enacted regulations or legislation specifically regulating digital currency yet. In order to enact a digital currency regulation, it would be required a new financial policy, structures and passing of a presidential, in which government takes full responsibility of monitoring, circulation and value.
Source: Freeman Law
Since 2018, Cryptocurrency is deemed illegal in Rwanda. According to the National Bank of Rwanda (NBR) “anyone who gets involved in the business of buying and selling digital money will do it at their own risk”. [1] According to Cointobuy’s analysis, the crypto-related activity in this country has a 0.9/10 safety rank in the position 238 out of 249 countries in terms of cryptocurrency safety.
Source: Freeman Law
The authorities in Rwanda consider this digital asset to be illegal. According to the National Bank of Rwanda (NBR), “anyone who gets involved in the business of buying and selling digital money does so at their own risk.”
Because of the risks associated with cryptocurrencies, the authorities have advised people to stay clear of them. There are currently no specific regulations governing the use of cryptocurrencies and digital assets in the country.
The National Bank of Rwanda has plans to create its Central Bank Digital Currency (CBDC) in the future, although it is currently researching the subject.
Source: DeFi Planet
The authorities in Rwanda consider this digital asset to be illegal. According to the National Bank of Rwanda (NBR), “anyone who gets involved in the business of buying and selling digital money does so at their own risk.”
Because of the risks associated with cryptocurrencies, the authorities have advised people to stay clear of them. There are currently no specific regulations governing the use of cryptocurrencies and digital assets in the country.
The National Bank of Rwanda has plans to create its Central Bank Digital Currency (CBDC) in the future, although it is currently researching the subject.
Source: DeFi Planet
The authorities in Rwanda consider this digital asset to be illegal. According to the National Bank of Rwanda (NBR), “anyone who gets involved in the business of buying and selling digital money does so at their own risk.”
Because of the risks associated with cryptocurrencies, the authorities have advised people to stay clear of them. There are currently no specific regulations governing the use of cryptocurrencies and digital assets in the country.
The National Bank of Rwanda has plans to create its Central Bank Digital Currency (CBDC) in the future, although it is currently researching the subject.
Source: DeFi Planet
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