Everything you need to know about the new virtual assets legislation This presentation was given by VFSC officers to a group of financial services industry representatives. Topics covered include the purpose of the Act; different types of VASP licenses; license application and renewal fees; application requirements and process; special clauses for Initial Token Offering and...
With new virtual asset legislation, Vanuatu joins a global “movement” shaping the future of finance New opportunities have emerged for fintech investors in Vanuatu since Parliament passed the Virtual Asset Service Provider (VASP) Act on March 26. The law recognized digital assets as “a medium of exchange, a unit of ac count, or a store...
Press release from the Prime Minister’s office The Right Honourable Prime Minister, Charlot Salwai Tabimasmas SARIBO (MP), announced that Vanuatu has prioritised its efforts to comply with the international anti-money laundering and combating the financing of terrorism (AML/CFT) requirements. PM Salwai reiterated that Vanuatu will remain a strong and committed partner in the global fight...
Preparing for the next round of regulatory assessments This presentation was given during the 2nd VFSC Symposium on Virtual Assets by Rick McDonell, the former Executive Secretary of the FATF and APG. He reviewed the latest developments in global financial regulation and shared some pro tips on how to prepare for the next round of...
Defining the regulatory framework for Class D Financial Dealer Licences A presentation on the upcoming “Virtual Assets and Virtual Assets Providers Act” was given during the 2nd VFSC Symposium on Virtual Assets by Joshua Tarinako, Managing Supervisor at VFSC, and Loretta Joseph, an Australian consultant for the VFSC who was instrumental in drafting the Bill...
Charting the roadmap for global compliance A who’s who of Vanuatu’s financial industry and its regulators converged at Port Vila’s Warwick Le Lagon resort on June 27 to discuss the new licence for virtual asset service providers (VASP) and to review the jurisdiction’s best strategies to avoid global regulatory watch lists. This was the second...
Watch the full symposium in three parts
Vanuatu fintech pioneers see a bright future despite short-term hurdles At a recent symposium, Vanuatu’s budding fintech industry was widely hailed as a strategic sector for the economy. While there are still a few challenges, all participants agreed that the opportunities promise a bright future for the country’s youth. The Symposium “Virtual assets: Navigating the...
A core group of 60 brokers remain after licensing rules were strengthened. Industry insiders cite Cyprus as an inspiration for Vanuatu’s future. This article first ran on June 22, 2023 on FinanceMagnates.com. Just five years ago, Vanuatu had 600 active Financial Dealer Licenses (FDL). Today, there are only 60, but the jurisdiction has traded quantity...
FDL holders! We’re moving boldly forward. You can help. Dear Licensees, If you receive this letter, you are among 60 firms (as per VFSC count on June 13) that currently hold an active Vanuatu Financial Dealer License (FDL). Congratulations! This means you have successfully completed your application by meeting all the requirements introduced in 2021...