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{
    "id": 1583375,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1583375/?format=api",
    "text_counter": 333,
    "type": "speech",
    "speaker_name": "Nominated, ODM",
    "speaker_title": "Hon. Irene Mayaka",
    "speaker": null,
    "content": "I want to echo what Hon. Millie has said before. This Parliament has passed several legacy laws not only for the present but also for the future. This Bill is particularly important not only for regulation but also for investor protection. We are not only looking at suppliers of virtual assets but also users of the assets. Again, in client asset segregation, when you are choosing to invest or save in a particular environment, it is always advisable to invest and save in different environments. As I conclude, I have seen and taken note of the public participation concerns and suggestions that were given by nine different organisations that submitted structured memoranda to the Committee. It is very helpful information. I have also noted that the Committee has taken them up to be included in the amendments. I join the Hon. Pukose in talking about the Virtual Assets Authority. I feel this is a very important aspect that will need another law to be put in place. This will enable us to give the required authority regulators to assist and strengthen this noble idea. For me, what is most important is having a sandbox policy, for example, the CMA has a policy on sandbox regulation. Sandbox regulation assists in having a live test environment to test any new innovations and technology in whichever space for virtual or traditional assets. What is going to be very important, and I hope the Chairman of the Departmental Committee on Finance and National Planning is listening to this, is that when we come up with the Virtual Assets Authority, we should include the sandbox regulation so that it can have the required strength. Hon. Temporary Speaker, I am thankful to the Committee for bringing this very important Bill to the House. I hope Hon. Members will support and pass it. With those few remarks, I support. Thank you."
}