Nauru plans to legislate the establishment of a virtual asset management bureau, which will position itself as a cryptocurrency hub in the Pacific region

ChainCatcher news, according to FinanceFeeds, the Republic of Nauru plans to legislate the establishment of a dedicated regulatory body for digital assets, named the Command Ridge Virtual Asset Authority (CRVAA), which will be responsible for regulating virtual asset service providers and helping the island nation become a hub for digital asset activities.

Nauru President David Adeang stated that the newly established regulatory body will be at the core of Nauru's broader strategy aimed at ensuring the economic resilience of Nauru.