ChainCatcher news, according to FinanceFeeds, the Republic of Nauru plans to legislate the establishment of a dedicated regulatory agency for digital assets, named the Command Ridge Virtual Asset Authority (CRVAA), which will be responsible for regulating virtual asset service providers and helping the island nation build a hub for digital asset activities.

Nauru President David Adeang stated that the newly established regulatory agency will be at the core of Nauru's broader strategy aimed at ensuring the resilience of Nauru's economy.