The Mauritius Financial Services Commission (FSC) issued a
communiqué on 15 July to highlight the issue of rules issued
under the Virtual Asset & Initial Token Offerings Services
(VAITOS) Act 2021, following consultations with stakeholders.
The communiqué provides links to detailed rules to
regulate and govern the issuance of Virtual Assets (VAs) and
Initial Token Offerings (ITOs) in terms of: Capital and other
financial requirements, Client Disclosure, Custody of Client
Assets, Cybersecurity, Publication of Advertisements, Risk
Management and Statutory Returns.
The VAITOS Act was brought into force on the 7 February 2022. It
provides for a regulatory framework for new and developing
activities regarding Virtual Assets (VAs) and Initial Token
Offerings (ITOs) in Mauritius, as well as to safeguard against
money laundering and financing of terrorism associated with
VAs.
