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Pakistan vs Rwanda

Crypto regulation comparison

← Back to map | Pakistan | Rwanda
Pakistan

Pakistan

Rwanda

Rwanda

Restricted
Restricted

Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.

Rwanda is developing a comprehensive crypto regulatory framework. The NBR and Capital Markets Authority are drafting a law requiring VASPs to obtain CMA licenses. The draft law prohibits crypto as legal tender, bans mining and crypto ATMs, and imposes fines up to 30M RWF and imprisonment for unlicensed operators.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining Yes Yes
Mining No No
Regulator SBP (State Bank of Pakistan), SECP
Regulator National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
Stablecoin Rules No regulation; SBP has not authorized any crypto activities
Stablecoin Rules Draft law prohibits crypto as payment; mining and crypto ATMs banned
Key Points
  • SBP prohibits banks and financial institutions from processing crypto transactions
  • No licensing framework for crypto exchanges; operating informally is risky
  • High P2P crypto adoption despite regulatory hostility
  • Government has considered formal banning legislation multiple times
  • SECP has explored digital asset regulation but no framework enacted
Key Points
  • Draft law requires VASPs to obtain licenses from Capital Markets Authority
  • Crypto prohibited as legal tender or payment method under draft law
  • Crypto mining, crypto ATMs, and mixer/tumbler services banned
  • Penalties include fines up to 30M RWF and up to 5 years imprisonment
  • Framework driven by FATF compliance on AML requirements
Sources
Sources