For Vanuatu, the future of financial services has already begun in the form of a recently gazetted amendment that formalizes the use of digital assets for licensed financial dealers. The freshly minted legislation, [Financial Dealers Licensing, 22/07/2021], allows for the “service of distribution, secondary trading, custodial storage, provision of investment advice or other services in relation to digital assets.”
Though digital assets themselves have been a hotly-contested issue in the past few years, a period of deliberation and structured evaluation led Vanuatu to reconsider and overturn an initial ban. Digital assets rely on a distributed, secure ledger, such as blockchain technology, and can be used to represent land, stocks, or other traditional commodities, but their most widespread use is for currencies.
Read more: https://ajc-vanuatu.com/digital-assets-legislation-brings-opportunity-for-vanuatu/