Rwanda vs Vatican City
Crypto regulation comparison
Rwanda
Vatican City
Restricted
No Regulation
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.
Vatican City has no cryptocurrency regulation. The micro-state's financial system is focused on the Holy See's financial activities. ASIF provides financial oversight.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
No
Regulator
National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
Regulator
ASIF (Supervisory and Financial Information Authority)
Stablecoin Rules
Draft law prohibits crypto as payment; mining and crypto ATMs banned
Stablecoin Rules
No stablecoin regulation
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
Key Points
- No specific cryptocurrency legislation
- ASIF provides financial oversight for the Holy See
- Micro-state with very limited financial market
- No crypto exchanges or services
- AML/CFT framework aligned with international standards