Rwanda's Chamber of Deputies approved the Virtual Assets Regulatory Act imposing 3-5 years imprisonment and fines up to 100 million Rwandan Francs for unauthorized operations, awaiting presidential assent.
Rwanda’s central bank has warned that P2P crypto trading involving the Rwandan franc is not authorized, leaving users exposed to scams, disputes, and losses without legal protection, shortly after Bybit added FRW to its P2P platform.
Rwanda’s central bank has reaffirmed that crypto-assets are not authorized for payments, franc conversions, or peer-to-peer trading involving the national currency after Bybit added support for the Rwandan franc on its P2P marketplace. The statement warned residents against using such services, citing financial risks and the lack of legal protection in case of losses. Regulators also stressed that the Rwandan franc remains the country’s only legal tender and that supervised financial institutions are barred from facilitating conversions between the franc and crypto-assets. The move fits Rwanda’s longer policy trajectory: the country has maintained a restrictive stance on crypto since 2018, while still exploring a state-backed digital currency called e-franc, currently in proof-of-concept with a pilot expected later. At the same time, Rwanda is not relying only on outright restrictions. In March, the Rwanda Capital Market Authority released a draft framework for virtual asset service providers, proposing a licensing regime under strict limits. The draft would still deny crypto legal-tender status and prohibit activities such as mining, mixer services, and tokens linked to the Rwandan franc. Chainalysis data cited in the report also shows Rwanda remains a relatively low-adoption crypto market in 2024 and 2025 compared with regional peers such as Nigeria and South Africa.
Rwanda's central bank has reiterated its prohibition on cryptocurrency transactions involving the national currency, the Rwandan franc, following Bybit's addition of franc support on its P2P marketplace. The bank warned residents against using such services, citing financial risks and lack of legal protection. This reaffirmation is part of Rwanda's long-standing restrictive stance on crypto since 2018, even as the country develops its own central bank digital currency, the e-franc. In March 2025, the Rwanda Capital Market Authority released a draft framework for regulating virtual asset service providers, introducing licensing requirements while maintaining strict limits. Chainalysis data shows low crypto adoption in Rwanda compared to regional peers like Nigeria and South Africa.
Rwanda's central bank has reiterated its prohibition on cryptocurrency transactions involving the national currency after Bybit introduced Rwandan franc support on its P2P marketplace. The bank warned residents against using such services due to financial risks and lack of legal protection. Since 2018, Rwanda has maintained a restrictive stance on cryptocurrencies while developing a central bank digital currency (e-franc) currently in proof-of-concept phase. A draft regulatory framework released in March proposes a licensing regime but bans mining, mixer services, and franc-linked tokens. Chainalysis data shows Rwanda has low crypto adoption rates compared to regional peers like Nigeria and South Africa.
