Vanuatu expects to enact digital assets and service providers bill as early as September

Vanuatu is expected to issue a digital asset and service provider law as early as September. It is understood that Branan Karae, Commissioner of the Vanuatu Financial Services Commission (VFSC), stated in the opening speech of the digital asset seminar held by the country's financial regulatory agency on June 27 that the law is expected to be issued in the first week of parliament. Loretta Joseph, policy advisor to VFSC, said that the law has been ready for several years, but has been postponed due to several changes in the cabinet. This law will help Vanuatu get closer to the standards set by the Financial Action Task Force (FATF), which requires countries to assess and mitigate risks associated with encryption service providers and activities.