Nauru establishes a crypto asset regulator
The Government of Nauru has enacted legislation creating a regulatory body to oversee activities involving digital assets.
The move is part of a strategy to formalise oversight of the growing crypto sector. The newly formed Command Ridge Virtual Asset Authority (CRVAA) will supervise the licensing of crypto service providers operating within or from the country.
Under the new legal framework, a wide range of virtual asset-related activities, including cryptocurrency exchanges, token offerings, lending platforms, staking, non-fungible tokens, and decentralised finance services, will require authorisation from CRVAA. In addition, the regulator will have jurisdiction over stablecoin issuance, digital banking operations, and…
