The Ministry of Finance has completed the proposed regulation on Digital Residency Program Cyber Security.
The digital residency law started in early 2022 and allows non-citizens to purchase an e-residency that gives them permission to start companies and sign documents and allow them to trade in cryptocurrencies.
The regulation, Finance Minister Kaleb Udui said in his Feb 3 letter to State Minister Gustav Aitaro said that the regulation ensures that the program promotes public confidence.
“The purpose of the proposed regulation is to ensure that the Digital Residency Office maintains a level of security in absolute terms and in relation to total assets,” which according to the MOF also includes ensuring the protection of the Digital Residency program stakeholders.”
The MOF further added that any comments or views on the regulation are welcome.