Southern African country Namibia has officially moved its crypto assets bill,

 

Southern African country Namibia has officially moved its crypto assets bill, the Namibia Virtual Assets Act 2023, into law, publishing the legislation in the Gazette of the Republic of Namibia.  The move came nearly one month after the country's National Assembly passed the bill.  The new crypto law will come into force on a date determined by the Minister of Finance of Namibia.  The legislation aims to appoint an authority to regulate and oversee the virtual asset services and the operations of the crypto service providers in the country. The Namibia Virtual Assets Act 2023 is also expected to ensure consumer protection, prevent market abuse, and combat money laundering.  The bill has become Namibia's first law outlining how crypto should be treated.