The legislation’s goal is to establish guidelines for the licensing and oversight of VASPs.
The country’s authorized crypto regulator will soon be able to issue licenses to businesses.
After passing a virtual assets bill into law on Friday, the Namibian government plans to create a regulatory body to monitor the sector. To better regulate and oversee virtual asset service providers and associated activities, the government of Namibia has enacted the Namibia Virtual Assets Act 2023.
The National Assembly just enacted the country’s first law regulating cryptocurrency. The legislation’s stated goal is to establish guidelines for the licensing and oversight of VASPs.
Curbing Multiple Unlawful Activities
In order to prevent unlawful activities like money laundering, terrorism financing, and proliferation from taking place in the digital asset market, it is crucial to provide consumer protection, put an end to market abuse, and limit the scope of illicit activity. Secondary issues th
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