Rwanda's Chamber of Deputies has passed the Virtual Assets Regulatory Act, setting a framework for cryptocurrency trading and investor protection. The legislation, approved on May 5, imposes strict penalties for unauthorized virtual asset operations, including imprisonment of 3 to 5 years and fines between 30 million and 50 million Rwandan Francs for individuals, and up to 100 million Francs for businesses. The Capital Markets Authority will oversee regulation, working with the National Bank of Rwanda for enforcement. The act awaits presidential approval and publication in the Official Gazette to become law, with detailed regulations to follow.