The Seychelles National Assembly has approved a draft bill aimed at regulating virtual asset service providers

ChainCatcher news, according to News.bitcoin, the Seychelles National Assembly has approved a draft bill aimed at regulating virtual asset service providers (VASP). The bill requires VASPs seeking a license to establish a substantive business in Seychelles, such as having a resident director and an office staffed with capable employees. The law aims to balance innovation with anti-money laundering efforts, in compliance with the recommendations of the Financial Action Task Force (FATF).