Western Pacific island country Nauru passes legislation to establish virtual asset regulator CRVAA

According to Foresight News, the Parliament of the Western Pacific island nation of Nauru today passed legislation to establish a dedicated virtual asset regulator, which established the Command Ridge Virtual Assets Authority (CRVAA), named after the highest point in the Nauru land, as an autonomous regulator that oversees virtual assets, digital banks and Web3 innovation. It will provide a licensing plan that allows Virtual Asset Service Providers (VASPs) to register and provide services based on Nauru.
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