Cryptocurrency In Vanuatu: Exchanges To Choose And Policies To Know About
Cryptocurrency isn’t looked at by the government of Vanuatu, so there aren’t any specific regulations that traders have to abide by. That’s why you’re free to trade any cryptocurrency you like and there won’t be any punishment for that.
However, Vanuatu also has a special license that has to be assigned to exchange for it to be legal. Currently, only DSTOQ — a company that invests in stocks, has this license and can work on the territory of the country.
Policies regarding crypto in Vanuatu
Vanuatu doesn’t have any policies regarding crypto, since the country doesn’t pay a lot of attention to it. Nevertheless, there’s one peculiar thing connected to crypto that the government of Vanuatu did.
Vanuatu decided to allow citizens to pay for their citizenship using cryptocurrency. Its cost is about $200,000, so at current values, it would be worth about 8 full bitcoins. However, the Citizenship Office itself objected to it various times saying that there’s no legal way to pay with crypto.
The best exchange to use for trading in Vanuatu
Vanuatu is a country that’s much smaller than many others and that’s why it doesn’t have any local crypto exchanges. However, if you live there, you can still use the international ones, like Binance, or Coinbase.
If you’re a beginner in crypto, Coinbase would suit you more, but if you already know what you’re in for, then Binance would be suitable. Coinbase is better for investments due to its high commissions on trades. Binance has lower fees and is often used for trading.