The draft also seeks to prevent the proliferation risks that are associated with virtual assets, new emerging business practices and technologies. virtualassets cryptocurrency
Botswana Cryptocurrency Regulation: Government Set to Present Virtual Asset Bill to Parliament
The planned presentation of the Virtual Asset Bill alongside other bills such as the Financial Intelligence Bill comes just over two months after the country’s central bankresidents engaged in cryptocurrency trading that Botswana does not have a regulatory framework to govern such trading. Elsewhere, the draft explains the instances where the regulator can grant an operating license to applicants. For their part, license holders are expected to protect assets belonging to clients. They are also expected to “prevent market abuse and provide measures for the acquisition of a beneficial interest in their businesses.