[Rwandan Parliament Passes Virtual Asset Regulation Bill, Unauthorized Operations Face Fines Up to 100 Million Rwandan Francs] May 10 News: The lower house of the Rwandan Parliament passed the Virtual Asset Regulation Bill on May 5, aiming to regulate cryptocurrency transactions, protect investors, and maintain financial system stability. The bill stipulates that individuals operating virtual asset businesses without authorization will face 3 to 5 years of imprisonment and fines ranging from 30 million to 50 million Rwandan Francs, while companies could face fines of up to 100 million Rwandan Francs. The Capital Market Authority will serve as the primary regulatory body, working in coordination with the National Bank of Rwanda for enforcement. The bill is pending the President's signature and will take effect once published in the official gazette. Detailed implementation rules will be formulated after the law comes into effect.