<ul><li>Vanuatu's Parliament has passed the Virtual Asset Service Provider (VASP) Act, creating a legal framework for cryptocurrencies.</li><li>The act defines virtual assets as digital representations of value that can be traded and used as a medium of exchange, unit of account, or store of value.</li><li>The legislation does not cover digital representations of fiat currencies, securities, and national digital currencies, including central bank digital currencies (CBDCs).</li><li>The Vanuatu Financial Services Commission (VFSC) will regulate the local crypto industry, ensuring compliance with international standards such as the FATF's 'travel rule' policy.</li></ul>

Vanuatu Parliament Passes Crypto Legislation

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