🌴Vanuatu, a Pacific Island nation, is gearing up to pass a digital asset bill as early as September! 🎉 The bill, which has been on the back burner due to cabinet changes, will set licensing and registration requirements for virtual asset service providers (VASPs) in the country. This move will bring Vanuatu closer to the standards set by the Financial Action Task Force (FATF). The proposed act will introduce five license classes covering various service providers. Penalties for non-compliance? A whopping $207.7 million fine or 15 years in the slammer! 💰🚔 What are your thoughts on this? Let's chat in the comments!