Branan Karai, who has transformed Vanuatu’s reputation as a financial center over the past five years, has been reappointed as the commissioner of the Vanuatu Financial Services Commission (VFSC) until 2029. Under his leadership, Vanuatu has shifted from being a regulatory haven to a respected financial hub by implementing new cryptocurrency regulations and pursuing membership in the International Organization of Securities Commissions (IOSCO).
Karai will continue to spearhead the introduction of new standards in the country’s financial sector. In the coming weeks, the VFSC plans to roll out legislation that will establish licensing requirements for virtual asset service providers. The ongoing efforts to join IOSCO aim to further strengthen Vanuatu’s international standing.
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