PANews reported on May 10th that, according to Newtimes, the Rwandan lower house of parliament passed a virtual asset regulation bill on May 5th, aiming to regulate cryptocurrency trading, protect investors, and maintain the stability of the financial system. The bill is currently awaiting the president's signature and publication in the official gazette before taking effect. The bill stipulates that individuals operating virtual asset businesses without authorization will face 3 to 5 years imprisonment and fines of 30 to 50 million Rwandan francs, while companies can be fined up to 100 million Rwandan francs.