The Namibian government officially reversed its 2017 decision to ban cryptocurrency exchanges by signing into law a bill regulating Virtual Asset Service Providers operating in the country last week. The bill, known as the Namibia Virtual Assets Act 2023, aims to appoint a regulatory authority to oversee cryptocurrency exchanges in the country.
Among the key objectives of the law are ensuring consumer protection, preventing market abuse, and reducing the risks of money laundering and financing of terrorism.
