LICENSING OF VIRTUAL ASSETS SERVICE PROVIDERS

PUBLIC NOTICE

LICENSING OF VIRTUAL ASSETS SERVICE PROVIDERS  

The Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”) refers to its Public Notice issued on March 28, 2022, wherein members of the public were informed of the Commencement of the Virtual Assets Act, 2022 (the Act) and the Virtual Assets Regulations, 2022 (the Regulations) effective February 25, 2022.

While the Act commenced on February 25, 2022, the transitional period was three (3) months, meaning that, where on the commencement of the Act, a person is carrying on a Virtual Asset Business, the person shall make an application for a license not later than three (3) months after the commencement of the Act.

The transitional period therefore ended on May 31, 2022. As such, all Virtual Asset Service Providers (VASPs) who have failed to apply for a license in terms of the Act read together with the Regulations, are hereby called upon to immediately cease Virtual Asset operations as they are operating illegally until they apply to and are licensed by the Regulatory Authority.  Action shall be taken against those operators who continue with the illegal/ unlicensed operations.

The Licensing Requirements for VASPs have been duly posted on the NBFIRA website: www.nbfira.org.bw under “all documents” section.

For more information, please contact:

Tel: +267 310 2595 / 368 6100

Email: mmodise@nbfira.org.bw

Ditshetsa Makepe (Ms)

ACTING DEPUTY CHIEF EXECUTIVE OFFICER - REGULATORY

June 20, 2022