Namibia's virtual assets bill, which will let the country designate a regulator for the industry, is now a law. camomileshumba reports
Namibia's government is set to designate a regulatory authority to oversee the virtual asset industry after moving its virtual assets bill into law Friday.
The Namibia Virtual Assets Act 2023 aims to help the south African country designate a regulatory authority to regulate and supervise virtual asset service providers and related activities. It is also supposed to ensure consumer protection, prevent market abuse and money laundering among other things. It is the country's first bill setting out how crypto should be treated, and wasIt was put into the Gazette of the Republic of Namibia on Friday, meaning it's now law.
"[It] will only become effective on a date to be determined by the Minister of Finance of Namibia," she told CoinDesk.
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