The Bill now awaits President Mokgweetsi Masisi’s assent to pass into law, as required by the Constitution.
The new Bill expands the Non-Bank Financial Institutions Regulatory Authority’s (NBFIRA) mandate to include licensing providers of virtual asset services, such as cryptocurrencies, as well as regulating and monitoring the issuance of virtual assets and persons conducting virtual asset businesses in Botswana. NBFIRA is also being tasked with developing rules, guidance and codes of practice in connection with the conduct of virtual asset businesses.
