🇷🇼📜 Rwandan regulators have unveiled a draft law to regulate virtual assets in the country! The Capital Markets Authority (CMA) will oversee the industry, marking a key step toward regulating digital asset transactions. The proposed framework aims to foster innovation while mitigating risks. Carine Twiringiyamana, CMA's manager of licensing and approvals, highlighted the importance of addressing money laundering concerns. 💼 Released on March 6, the draft provides legal clarity for digital representations of real-world assets. The National Bank of Rwanda had previously warned against crypto transactions until a regulatory framework was in place. Any business providing virtual asset services must secure approval from the CMA. The draft also clarifies that virtual assets are not legal tender within Rwanda and prohibits their use for payments and certain activities. What are your thoughts on Rwanda's new crypto regulations and their impact on the industry?