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Nauru has become the first Pacific island nation to establish a regulatory body dedicated to overseeing virtual assets with the creation of the Command Ridge Virtual Asset Authority. The law passed on June 17 introduces licensing for crypto platforms and legal definitions for digital asset activities bringing clarity and protection for investors and innovators.
The CRVAA will oversee exchanges wallets token offerings and digital banking services while enforcing anti-money laundering rules and cybersecurity standards. This marks a major shift from the previously unregulated environment and opens the door for Web3 businesses to legally register in Nauru.
President David Adeang said the move will reduce dependence on climate finance and create new economic opportunities. Commerce Minister Maverick Eoe believes the framework will help Nauru compete with top digital economies and attract global investment. With this bold step Nauru positions itself as a serious player in the evolving world of crypto regulation.
