Botswana has developed a bill on crypto regulation

The country is waiting for the president’s approval to formally adopt the document

03.02.2022 - 10:40

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What’s new? In the African country of Botswana, the government has unanimously approved the “The Virtual Assets Bill.” Cryptocurrencies and digital tokens will be regulated as part of strengthening the country’s anti-money laundering policy. The bill is awaiting official approval from President Mokgweetsi Masisi, Bloomberg reports.

Bloomberg’s material

What provisions does the new bill include? Botswana’s companies and citizens who engage in digital asset transactions now have to obtain a license from the local regulator.

Amid recent inspections, by the financial supervision, the country will tighten the requirements for licensing traders and firms to combat financial fraud. There will also be new requirements for cryptocurrency advertising, namely, the advertiser will have to provide “complete and accurate information about the asset for potential buyers.”

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