According to Odaily, the Pacific island nation of Vanuatu is planning to enact the Digital Assets and Service Providers Act in September. Branan Karae, a commissioner of the Vanuatu Financial Services Commission (VFSC), stated that the bill has been in preparation for several years but has been delayed due to several cabinet changes.
In previous news from 2022, Vanuatu's Prime Minister Bob Loughman officially greenlit the Satoshi Island crypto project in the country. The final number of residents on Satoshi Island is limited to 21,000. To obtain permanent residency, in addition to holding an NFT, one also needs to acquire Vanuatu citizenship through a $130,000 investment.