On July 25, Namibia's government moved its virtual assets bill into law, marking a significant milestone for the nation's burgeoning crypto sector. The Namibia Virtual Assets Act 2023 aims to appoint a regulatory authority responsible for supervising virtual asset service providers and associated activities.
The legislation seeks to ensure consumer protection, address market abuse, and prevent money laundering, among other objectives. Having passed through the National Assembly last month, it represents the country's first bill outlining the treatment of cryptocurrencies.
