The Vanuatu government has officially passed the Virtual Asset Providers Act, a major legislative step that enables blockchain and Web3 companies to legally establish business headquarters within the country. This move directly benefits Satoshi Island, the innovative blockchain-focused private island formerly known as Lataro Island.

With the new law in place, businesses looking to operate in the virtual asset space can now obtain the necessary licenses to function under Vanuatu’s jurisdiction, creating a clear and regulated pathway for digital asset companies to thrive in the Pacific nation.

Satoshi Island’s Web3 community welcomes the development, as it strengthens the island’s position as a forward-thinking hub for blockchain innovation and digital entrepreneurship.

“This is a fantastic move by Vanuatu,” said representatives of Satoshi Island, “ensuring the nation remains competitive in the rapidly evolving digital economy. By embracing blockchain and virtual assets, Vanuatu positions itself as a leading center for innovation in the region.”

The Virtual Asset Providers Act aligns with Vanuatu’s broader strategy to attract investment in emerging technologies while ensuring responsible oversight and compliance within the digital sector.