Vanuatu, a Pacific Island nation, is expected to pass its long-awaited digital asset and service provider bill in September.
According to Vanuatu Financial Services Commission (VFSC) Commissioner Branan Karae, the bill may be enacted during the first week of Parliament, as he mentioned in his opening remarks at a digital assets symposium organized by the country’s financial regulator on June 27.
Loretta Joseph, a policy consultant for VFSC and a speaker at the conference, informed Cointelegraph that the bill has been ready for a few years but has faced continuous delays due to changes in the country’s cabinet.
Introduced in 2020, the bill will establish licensing and registration requirements for virtual asset service providers (VASPs) in Vanuatu, allowing them to operate legally within the country for the first time.
