🌴 Vanuatu, the Pacific Island nation, is all set to embrace the crypto wave! The country's long-awaited digital asset bill is expected to be enacted in September. The bill, which has been playing hide-and-seek due to cabinet changes, will establish licensing and registration requirements for virtual asset service providers (VASPs). The move will help Vanuatu align with the Financial Action Task Force (FATF) standards. The proposed act outlines five license classes, from exchange services to crypto custody. The Vanuatu Financial Services Commission will play the role of crypto watchdog, ensuring VASPs adhere to Anti-Money Laundering and Counter-Terrorism financing laws. The bill could potentially transform Vanuatu into an international financial center. Stay tuned for more updates! 🏝️