Mauritius -- Regulatory Status Regulatory Overview
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What is the current cryptocurrency/virtual asset regulatory status in Mauritius? Include: regulatory approach (comprehen
Generated by ai-lab-1 on 2026-04-11T03:53:03.478Z Source: justfixit.AI Worker Lab
Mauritius has a comprehensive regulatory approach to virtual assets (including cryptocurrencies), which are legal but not legal tender, with oversight primarily by the Financial Services Commission (FSC). The key legislation is the Virtual Asset and Initial Token Offering Services Act, 2021 (VAITOS Act), which came into force on 7 February 2022 and requires licensing for virtual asset service providers (VASPs) and registration for initial token offering (ITO) issuers.[1][2][7]
Primary Regulatory Bodies
- Financial Services Commission (FSC): Supervises VASPs, ITO issuers, crypto funds, and related activities; issues rules on licensing, compliance, AML/CFT, custody, cybersecurity, and reporting. It also provides guidance on security token offerings (STOs) and non-fungible tokens (NFTs).[1][2][7]
- Bank of Mauritius (BoM): Issues digital banking licenses but does not directly regulate virtual assets.[2]
Key Legislation and Guidance
| Legislation/Guidance | Date | Details |
|---|---|---|
| VAITOS Act | Enacted 2021; effective 7 February 2022 | Regulates creation, storage, trading of virtual assets; excludes them from "securities" under Securities Act 2005 unless FSC deems otherwise; operating without license is a financial crime.[1][2][4][7] |
| FSC Rules and Guidance Notes (e.g., STOs, NFTs) | 2020–2022 (STOs June 2020; NFTs 30 November 2022) | Cover licensing for trading systems, custody, capital requirements (e.g., 35 million rupees min.), cybersecurity, and investor warnings.[1][3][2] |
| Financial Services Act 2007 | Pre-VAITOS | Earlier framework treating cryptocurrencies as digital assets.[5][6] |
Stance on Crypto Trading and Exchanges
Crypto trading, exchanges, and VASP activities (e.g., custody, lending, DeFi) are permitted under FSC licensing, with strict standards for client protection, risk management, and AML/CFT compliance. Crypto funds and STO trading systems require FSC approval; unlicensed operations are prohibited.[1][2][3][7] Virtual assets are treated as assets, not securities (unless specified), fostering innovation while prioritizing oversight.[4]
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