Rwanda Compliance Report

Generated 2026-09-22

Comprehensive Framework

Regulatory Overview

Regulatory Status: Dedicated crypto/VA legislation, licensing regime, active enforcement
Key Regulator(s): Central Bank of Rwanda, Capital Market Authority of Rwanda, Capital Market Authority the Regulatory Authority, United Nations Security Council, Ministry of Finance and Economic Planning
Primary Legislation: The National Bank of Rwanda has published no virtual-asset circular or guideline, Rwanda has no specific cryptocurrency or digital asset law as of 2025, Law No. 58/2017 of 29/12/2017 governing the National Bank of Rwanda grants BNR a, The Law No. 59/2017 of 31/01/2018 on prevention of money laundering and terroris, Customer due diligence (CDD) requirements under Rwandan AML law include identifi, Record retention requirements under Rwandan AML law mandate keeping identificati, Beneficial ownership transparency requirements exist under Rwandan company law f, Law No. 027/2022 of 04/11/2022, Value Added Tax (VAT) under Rwandan law applies to taxable supplies of goods and, The divide between paper law and practice is acute: BNR has announced plans for
Travel Rule: Adopted — Threshold: Implemented
Tax Reporting: If an individual acquires and sells cryptocurrencies for personal investment and not as part of a regular, organized business activity, any profit derived might not be subject to a specific capital gains tax.. However, if the trading activity is frequent, systematic, and profit-driven to the extent that it constitutes a "business" or "professional activity," then the gains would be considered business income and taxed under the individual income tax rates (see "Income Tax on Crypto" below). The RRA would assess whether an activity constitutes a business based on factors like frequency, volume, and intent.. Rwanda's capital gains tax rate is ten per cent under Article 36 of Law n° 027/2022 of 20/10/2022 establishing taxes on income as amended by Law n° 014/2025 of 27/05/2025, and no Rwandan tax law carries a virtual asset or cryptocurrency provision.. Rwanda taxes company profit under Law n° 027/2022 of 20/10/2022 establishing taxes on income, which carries no virtual asset, cryptocurrency or digital asset provision, and neither Law n° 051/2023 of 05/09/2023 nor Law n° 014/2025 of 27/05/2025 added one.. Rwanda's corporate income tax rate is twenty-eight per cent under Article 48 of Law n° 027/2022 of 20/10/2022 as amended by Law n° 051/2023 of 05/09/2023, with reduced rates of twenty per cent and twenty-five per cent for newly listed companies.

Key Facts

aml Rwanda's operative anti-money-laundering statute is Law nº 001/2025 of 22/01/2025 on the prevention and punishment of money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction, which replaced Law nº 028/2023 of 19/05/2023, itself the repeal of Law nº 75/2019 of 29/01/2020; no Rwandan anti-money-laundering law is numbered 008/2020, and the Financial Intelligence Centre is governed by Law nº 045/2021 of 18/08/2021 as amended by Law nº 002/2025 of 22/01/2025. Rwanda's anti-money-laundering obligations rest on Law nº 001/2025 of 22/01/2025, not on any law numbered 008/2020; Law nº 028/2023, which it replaced, contains no reference to virtual assets or virtual asset service providers, and preventive duties for virtual asset businesses were created only by Law nº 023/2026 of 25/05/2026 regulating virtual asset business. Law nº 008/2021 of 16/02/2021 governs partnerships, not payment systems; Rwanda's payment-system statute is Law nº 061/2021 of 14/10/2021, which makes no reference to virtual assets, and virtual asset business is licensed by the Capital Market Authority of Rwanda under Law nº 023/2026 of 25/05/2026, the National Bank of Rwanda being confined to monetary and financial-stability oversight and cooperation rather than licensing. Law n° 008/2021 of 16/02/2021 governs partnerships and was published in Official Gazette nº Special of 17/02/2021; Rwanda's payment system statute is Law n° 061/2021 of 14/10/2021, and neither law regulates virtual assets or carries anti-money-laundering obligations. Rwanda's AML/CFT/CPF implementing regulations are made by the Director General of the Financial Intelligence Centre, and since 28 May 2026 the Capital Market Authority of Rwanda licenses and supervises virtual asset service providers under articles 5, 6 and 10 of Law nº 023/2026, the National Bank of Rwanda being confined to the cooperation functions in article 8. BNR Website: National Bank of Rwanda Rwanda's Financial Intelligence Centre, established by Law n° 74/2019 of 29/01/2020 and governed by Law n° 045/2021 of 18/08/2021 as amended by Law Nº 002/2025 of 22/01/2025, monitors and gives guidance to reporting persons and supervisory bodies on AML/CFT/CPF obligations, and issued both the AML/CFT/CPF Regulations of 16/02/2022 and the Targeted Financial Sanctions Regulations of 26/08/2021. FIC Website: Rwanda Financial Intelligence Centre
enforcement Rwanda enacted a comprehensive virtual-asset statute on 25 May 2026: Law nº 023/2026 of 25/05/2026 regulating virtual asset business, Official Gazette nº Special of 28/05/2026, which sets licensing conditions at Article 10, suspension and revocation at Article 11, a regulatory sandbox at Article 13, the virtual-asset service list at Article 14, administrative sanctions at Article 32 and offences at Articles 33 to 38, and makes the Capital Market Authority of Rwanda the licensing and supervisory authority. The implementing regulations remain unmade, so the licensing regime is in force yet not operable. No National Bank of Rwanda virtual-asset warning exists as a published central-bank instrument. Rwanda's virtual-asset investor-protection rules are statutory and belong to the Capital Market Authority of Rwanda, at Articles 25 to 27 of Law nº 023/2026 of 25/05/2026 on investor protection, market conduct and data and asset protection, with technology and information security at Article 28 and inspections at Article 29. No National Bank of Rwanda cryptocurrency warning exists as a published central-bank instrument, and the Capital Market Authority's licensee register carries ten categories, from exchanges to investment advisers, with no virtual-asset category and no licensed virtual asset service provider. Rwanda has a statutory virtual-asset licensing regime at Article 10 of Law nº 023/2026 of 25/05/2026, and enforcement runs through that statute rather than through general financial law: Article 6(b) directs the Capital Market Authority of Rwanda to identify a virtual asset service provider that contravenes the Law, Article 29 provides for inspections, Article 30 for freezing of virtual assets, Article 32 for administrative sanctions and Articles 33 to 38 for offences. Because the implementing regulations are unmade, no licence has been issued and no enforcement action has been published. Limited Market Size: The cryptocurrency market in Rwanda may not yet be large enough to attract the scale of illicit activity or the number of unregulated operators that would trigger frequent, large-scale, and publicly reported enforcement actions seen in more mature or permissive crypto jurisdictions. Rwanda's virtual-asset regulator is the Capital Market Authority of Rwanda: Articles 5 to 7 of Law nº 023/2026 of 25/05/2026 establish it as the Regulatory Authority, Article 6 charges it with supervising virtual asset service providers and with ensuring their anti-money-laundering compliance, and Article 14 makes it the licensing authority for virtual asset services. Article 8 gives the National Bank of Rwanda a cooperation role together with power to issue directives on matters falling under its own purview, which is a directive power rather than a licensing power. Rwanda's official position on virtual assets is set by statute rather than by warning. Article 15 of Law nº 023/2026 of 25/05/2026 bars natural persons from carrying on virtual asset business, provides that virtual assets are not legal tender and cannot be used as a direct means of payment unless the National Bank of Rwanda authorises it, requires approval for mining facilities, virtual-asset automated teller machines and mixer or tumbler services, and restricts marketing to licensed providers. Article 4(3) excludes algorithmic stablecoins, non-fungible tokens and central bank digital currency from the Law's scope. Entity Targeted: The general public and potential investors. Penalty Amount: Not applicable, as these are warnings, not fines against specific entities. Date: Ongoing, with several statements issued over the years.
licensing Rwanda's anti-money-laundering statute is Law nº 001/2025 of 22/01/2025 on the prevention and punishment of money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction, Official Gazette nº Special Bis of 22/01/2025, which superseded Law nº 028/2023 of 19/05/2023, itself the successor to Law nº 75/2019. No Rwandan anti-money-laundering statute carries the number 060/2021. Reporting persons on the Financial Intelligence Centre's published list are 435 financial institutions and 3,128 designated non-financial businesses and professions, a class that excludes virtual asset service providers, whose anti-money-laundering duty arises instead as a licensing condition under Article 10(2)(g) of Law nº 023/2026 of 25/05/2026, supervised by the Capital Market Authority of Rwanda under Article 6. Rwanda's general anti-money-laundering compliance requirements for reporting persons are set by Regulations nº 002/FIC/2026 of 22/06/2026, Official Gazette nº 25 Bis of 22/06/2026, issued by the Director General of the Financial Intelligence Centre, whose Article 45 repeals Regulations nº 002/FIC/2023 of 26/06/2023, and the matching sanctions instrument is Regulations nº 001/FIC/2026 of 22/06/2026 of the same date and gazette. Both are Financial Intelligence Centre regulations rather than ministerial orders, and neither mentions virtual assets or virtual asset service providers. Ministerial Order N° 002/2022 of 28/01/2022 determining procedures for combating money laundering and financing of terrorism: This order details the procedural aspects of AML/CFT compliance. The National Bank of Rwanda has published no virtual-asset circular or guideline; ESAAMLG's July 2024 mutual evaluation of Rwanda records that the central bank issued a public notice in 2023 warning against crypto-asset activity until a regulatory framework was in place, and since Law nº 023/2026 of 25/05/2026 regulating virtual asset business the licensing of virtual asset service providers belongs to the Capital Market Authority of Rwanda, with the National Bank of Rwanda confined by Article 8 to cooperation with that Authority and to directives on matters falling under its own purview. For Individuals: Obtaining and verifying name, address, date of birth, nationality, national identification number (e.g., Rwandan ID card, passport number), and any other unique identifiers. This typically involves documentary verification (e.g., valid ID document) and, where appropriate, non-documentary methods. For Legal Entities (Companies, Corporations, Trusts): Obtaining and verifying the entity's name, legal form, address, registration number, articles of incorporation, bylaws, and proof of existence. Identifying and verifying the identity of beneficial owners (individuals who ultimately own or control the entity, typically 25% ownership threshold or control through other means), as well as persons acting on behalf of the entity (e.g., directors, authorized signatories). Understanding the Purpose and Intended Nature of the Business Relationship: VASPs must understand why the customer wants to use their services and the anticipated level and type of activity. Ongoing Monitoring: Continuously monitoring the business relationship and transactions undertaken by customers to ensure they are consistent with the VASP's knowledge of the customer, their business, and risk profile. This includes keeping customer information up-to-date.
securities Feasibility: Partially feasible. Operators can explore activities within the regulatory sandbox but must await explicit licensing for direct cryptocurrency exchange operations. Mitigating Factors: Engage proactively with the CMA to monitor sandbox approvals and stay updated on legislative developments. Recommended Strategies: Focus on tokenized securities or fintech solutions that align with existing CMA frameworks, ensuring robust AML/KYC compliance and preparing for potential tax implications under general income and capital gains tax rules. Capital Market Authority (CMA): Oversees capital market activities, licensing, supervision, investor protection, and market conduct. Website: https://www.cma.rw Rwanda Stock Exchange (RSE): Provides a formal platform for securities trading and publishes regulatory guidelines. Website: https://www.rse.rw New Capital Market Business Bill (2025): Replaces the 2011 Capital Market Business Act, introducing a regulatory sandbox, digital transaction recognition, Islamic securities provisions, and Community Benefit Companies (CBCs). CMA Regulations and Directives: Include guidelines on market integrity, insider trading, and market manipulation. The CMA aligns with FATF (Financial Action Task Force) standards for AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism). Rwanda is a member of the East African Community, facilitating regional regulatory cooperation.
stablecoin Article 19 of Law n° 023/2026 of 25/05/2026 regulating virtual asset business governs stablecoin issuance in Rwanda, and Article 4(3) excludes central-bank-regulated payment instruments, securities and capital-market instruments, central bank digital currencies and algorithm-based stablecoins from the definition of virtual asset. Likely Fallback (if regulated for payments): If a stablecoin were to be used for payment purposes and allowed by the NBR, it would most likely be shoehorned into the existing framework for Electronic Money or Payment Services. Rwanda's payment-system statute is Law n° 061/2021 of 14/10/2021 governing the payment system, published in Official Gazette n° 41 bis of 01/11/2021, which repealed Law n° 03/2010 except its Article 23 and requires a licence for the provision of payment services at Article 16. URL (Official Gazette, search for the Act): You typically find this via the Rwandan Official Gazette or by searching the NBR's legal framework section. A direct link might change, but you can generally find NBR publications on their official website: https://www.bnr.rw/ Electronic money issuers in Rwanda are governed by Regulation n° 54/2022 of the National Bank of Rwanda, a 46-article instrument whose Article 45 repealed Regulation n° 08/2016 of 01/12/2016 governing the electronic money issuers. URL (Search NBR publications): Similar to the Act, check the NBR's official website under "Legal Framework" or "Publications." Securities Classification (Less Likely for most stablecoins, but possible): If a stablecoin were structured to offer investment rights, interest, or represent a share in an underlying asset pool in a way that qualifies as an investment, it could potentially fall under securities law, regulated by the Capital Market Authority (CMA). Rwanda's capital market statute is Law N°01/2011 of 10/02/2011 regulating capital market in Rwanda, Official Gazette n° 13bis of 28/03/2011, as modified by Law N°45/2018 of 13/08/2018.
status Rwanda has no specific cryptocurrency or digital asset law as of 2025–2026; the National Bank of Rwanda (BNR) has issued public warnings and signaled intent to regulate, but no dedicated licensing regime is operational. General Information The primary regulatory bodies are the National Bank of Rwanda (BNR) for financial services and the Rwanda Utilities Regulatory Authority (RURA) for ICT/communications, but neither has published final crypto-specific rules. Migration No cryptocurrency exchange, custodian, or digital asset service provider has been granted a license by any Rwandan authority to date. Other Permits Virtual asset service providers cannot obtain any existing license type because the current permit framework covers immigration, work, and NGO activities—not financial technology or digital assets. Other Permits BNR announced in 2023–2024 that it was developing a regulatory framework for virtual assets and exploring a central bank digital currency (CBDC), but no final regulation has been published in the Official Gazette as of January 2026. Rwanda Directorate General of Immigration and Emigration The Rwanda Utilities Regulatory Authority (RURA) regulates ICT and electronic communications, which could tangentially cover blockchain infrastructure, but RURA has not issued any digital asset-specific rules. Migration The Financial Intelligence Centre (FIC) under the Ministry of Finance is the designated AML/CFT authority in Rwanda and applies general AML obligations to all financial institutions, which could extend to virtual asset service providers if they were recognized. How to Apply for a Permit : IremboGov Rwanda is a member of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), not the Financial Action Task Force (FATF) itself, and is subject to FATF-style peer reviews through that body. Other Permits
tax If an individual acquires and sells cryptocurrencies for personal investment and not as part of a regular, organized business activity, any profit derived might not be subject to a specific capital gains tax. However, if the trading activity is frequent, systematic, and profit-driven to the extent that it constitutes a "business" or "professional activity," then the gains would be considered business income and taxed under the individual income tax rates (see "Income Tax on Crypto" below). The RRA would assess whether an activity constitutes a business based on factors like frequency, volume, and intent. Rwanda's capital gains tax rate is ten per cent under Article 36 of Law n° 027/2022 of 20/10/2022 establishing taxes on income as amended by Law n° 014/2025 of 27/05/2025, and no Rwandan tax law carries a virtual asset or cryptocurrency provision. Rwanda taxes company profit under Law n° 027/2022 of 20/10/2022 establishing taxes on income, which carries no virtual asset, cryptocurrency or digital asset provision, and neither Law n° 051/2023 of 05/09/2023 nor Law n° 014/2025 of 27/05/2025 added one. Rwanda's corporate income tax rate is twenty-eight per cent under Article 48 of Law n° 027/2022 of 20/10/2022 as amended by Law n° 051/2023 of 05/09/2023, with reduced rates of twenty per cent and twenty-five per cent for newly listed companies. Losses from crypto trading by a business would typically be deductible against other business income. Mining: Income generated from cryptocurrency mining activities (e.g., block rewards, transaction fees) would likely be considered business income. Staking, Lending, DeFi: Rewards or interest earned from staking, lending, or participating in Decentralized Finance (DeFi) protocols would likely be classified as investment income or business income, depending on the scale and nature of the activity.
travel rule Rwanda has not enacted any cryptocurrency or digital asset legislation, and no dedicated travel-rule framework implementing FATF Recommendation 16 exists as of the research date. Rwanda Travel Advisory | Travel.State.gov Operating a VASP in Rwanda today means doing so without legal authorisation, defined compliance obligations, or regulatory certainty. Rwanda Travel Advisory | Travel.State.gov Travel Advisory: Rwanda May 2026 - U.S. Embassy in Rwanda The National Bank of Rwanda (BNR) has not issued binding regulations, a licensing regime, or registration requirements for virtual asset service providers; zero entities have been licensed or registered for crypto activities under any AML/CFT framework. RBC: Passengers Arriving Or Departing From Rwanda Federal Register :: Arrival Restrictions Applicable to Flights Carrying Persons Who Have Recently Traveled From or Were Otherwise Present Within Rwanda Rwanda is not a FATF member; it is a member of ESAAMLG (a FATF-style regional body) and has undergone mutual evaluations by that body (latest: 2018 Mutual Evaluation Report, 2023 Follow-Up Report). International pressure via ESAAMLG will likely force future VASP regulation, but no roadmap or timeline has been published. Rwanda Travel Advisory | Travel.State.gov Federal Register :: Arrival Restrictions Applicable to Flights Carrying Persons Who Have Recently Traveled From or Were Otherwise Present Within Rwanda Official Gazette — no publication between 2017 and 31 December 2024 references FATF Recommendation 16, the travel rule, or virtual assets in a regulatory context. Federal Register :: Arrival Restrictions Applicable to Flights Carrying Persons Who Have Recently Traveled From or Were Otherwise Present Within Rwanda Rwanda Travel Advisory | Travel.State.gov National Bank of Rwanda (BNR) — primary financial regulator. As of 31 December 2024, BNR has issued no regulation, directive, circular, or guideline addressing cryptocurrencies, digital assets, or VASPs. BNR’s public communications consist solely of consumer-risk warnings (e.g., BNR Press Release of 14/03/2018, reiterated 2021). RBC: Passengers Arriving Or Departing From Rwanda Travel Advisory: Rwanda May 2026 - U.S. Embassy in Rwanda Financial Intelligence Centre (FIC) — designated STR recipient under Law No. 059/2016, Art. 18. FIC has issued no practice note, guidance, or directive requiring crypto businesses to file STRs or implement travel-rule data collection. Rwanda Travel Advisory | Travel.State.gov Federal Register :: Arrival Restrictions Applicable to Flights Carrying Persons Who Have Recently Traveled From or Were Otherwise Present Within Rwanda Rwanda Revenue Authority (RRA) — no ruling, practice note, or guidance on crypto taxation published through December 2024. Travel Advisory: Rwanda May 2026 - U.S. Embassy in Rwanda Rwanda Travel Advisory | Travel.State.gov ESAAMLG Member since 2007. Not a FATF member. Rwanda Travel Advisory | Travel.State.gov Federal Register :: Arrival Restrictions Applicable to Flights Carrying Persons Who Have Recently Traveled From or Were Otherwise Present Within Rwanda

Sources

This report is AI-generated from publicly available regulatory sources. Last updated: 2026-09-06. View full profile