Mauritius kicks off consultations on Guidelines for Virtual Assets

The Bank of Mauritius has kicked off public consultations on a draft Guideline for Virtual Asset related Activities (VAs).

The Guideline sets out the framework for a sound and prudent approach by banks when dealing with virtual asset related activities. Stakeholders are invited to submit their responses to the BoM not later than 30 December 2022.

The Virtual Asset and Initial Token Offering Services Act 2021 (The VAITOS Act) which has come into force on 7 February 2022 provides for a regulatory framework for new and developing activities regarding Virtual Assets and Initial Token Offerings (ITOs) in Mauritius.

The VAITOS Act empowers the Financial Services Commission  (FSC) to regulate and supervise Virtual Asset Service Providers and issuers of ITOs.

Banks may also be engaged in activities related to virtual assets and provide banking services to Virtual Asset Service Providers, issuers of ITOs and customers dealing in virtual assets.

Source: Bank of Mauritius