In accordance with the Virtual Assets Act 2022 of Botswana, the Regulatory Authority is mandated to establish and maintain a comprehensive register of persons licensed to engage in virtual asset business activities.
This initiative aims to enhance transparency, accountability, and facilitate public access to essential information. Here are the key features of the licensing register:
License Holder Information:
The register will include the full names and physical address of the license holder. Additionally, it will specify the address of the virtual asset business if different from the license holder’s address.
Details regarding the type of license held by the license holder will be provided. This includes any license issued or registration by a comparable body concerning virtual asset business activities.
Virtual Asset Services:
The register will outline the virtual asset services offered by the license holder, providing clarity on the scope of their business activities.
Information on key stakeholders, including organizers, issuers, founders, investors, beneficial owners, security holders, directors, and officers of the virtual asset business, will be recorded.
Any conditions imposed by the Regulatory Authority on the virtual asset business or license will be explicitly stated in the register.
The Regulatory Authority reserves the right to include any other information deemed necessary for comprehensive oversight.
Open for Inspection:
The register will be open for inspection by any member of the public. Access to the register can be obtained upon payment of a prescribed fee, ensuring openness while covering administrative costs.
Error Correction and Changes:
License holders are required to promptly notify the Regulatory Authority of any errors in the entry or changes in circumstances that could impact the accuracy of the entry. This ensures that the register is always up-to-date and reflective of the current state of affairs.
The establishment of this licensing register underscores the commitment to transparency and accountability within the virtual asset ecosystem, providing stakeholders and the public with valuable insights into the licensed entities’ operations.