Vanuatu Enters Global Market for Digital Assets

Fazzaco learned that Vanuatu, a Pacific island nation, has just become the latest jurisdiction to officially enter the global market for digital assets.

According to the amendment to the Financial Dealers Licensing Act, domestic and foreign businesses who apply for a Vanuatu Financial Dealer License (FDL) will be able to "provide service of distribution, secondary trading, custodial storage, provision of investment advice or other services in relation to digital assets." 

"This is great news for Vanuatu's financial dealers who had been waiting for the proper framework to respond to the explosive demand for digital asset services by traders around the world," said Martin St-Hilaire, President of the Financial Markets Association of Vanuatu.

"This is a smart move by legislators because they're taking two positive steps at once: they're paving the way for new growth opportunities in the financial sector while doubling down on protecting consumers. Only by having zero tolerance for financial crime can we make our growth sustainable in the long term," added St-Hilaire.

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Financial Markets Association of Vanuatu (FMA Vanuatu) is a new organization established as the representative and self-regulating body for FDL Vanuatu's Financial Dealer License (FDL) program.

FMA Vanuatu has been founded by AJC, Barrett & Partners, Company Services Ltd., iCount, Law Partners and Moores Rowland who represent the majority of financial dealers licensed in Vanuatu.