Virtual Asset And Initial Token Offering Services – New Regulatory Regime

With the coming into operation of the Virtual Asset and Initial Token Offering Services Act 2021 (the "Act") on 7 February 2022, Mauritius is seeking to become a jurisdiction of choice for investors to conduct business in virtual assets. This Act comes at an opportune time when there is an increase in interest from investors.

The Act within the current legislative landscape

Prior to the Act, a person wishing to undertake services involving virtual assets or the set-up of virtual assets platforms would only have had recourse to the following licences:

1. Regulatory Sandbox Licence which applies to innovative business activities for which there exists no legal framework or adequate provisions under local legislation;