Namibia Signs Virtual Assets Law to Regulate Cryptocurrencies

Namibia becomes third sub-Saharan African nation to license and regulate Virtual Asset Service Providers and Initial Token-Offering Service Providers to help combat money laundering, according to the nation’s central bank.

• The Bank of Namibia will regulate the service providers
• “The move to regulate virtual assets thus is a major step to provide greater legal and regulatory certainty to both the public and the financial-services industry,” Governor Johannes !Gawaxab says in emailed statement
• The legislation doesn’t give legal tender status to virtual currencies, although merchants and buyers will have the discretion to accept them as payment methods
• Authorities will continue talks ...