According to The New Times, Rwanda's parliament approved a draft law on May 5 to regulate virtual assets, aiming to establish a formal licensing and regulatory framework for cryptocurrencies and other digital assets. The report states that the Rwanda Capital Market Authority will serve as the primary regulator, while the National Bank will handle coordination and oversight on financial stability. Companies operating virtual asset services without a license could face fines of up to $68,000, while individuals operating without a license could face fines ranging from $21,000 to $34,000, 3 to 5 years of imprisonment, or both. Illegal payment services, crypto ATMs, mining, and mixing services will also be penalized. https://(wublock123.com)/news/rwanda-parliament-passes-virtual-assets-bill-crypto-regulation-60812