FSC Maurius released a Guidance Note on the Recognition of Digital Assets as an asset-class for investment by Sophisticated and Expert Investors on 17 September 2018.
The Financial Services Commission, Mauritius (FSC), the integrated regulator for non-banking financial services and global business sectors, is highly supportive of Fintech-related initiatives in the Mauritius International Financial Centre. In light of the developments in Fintech activities, the FSC has been receiving numerous queries from its licensees and stakeholders regarding the possibility for them to invest in Cryptocurrencies. Through this Guidance Note, the first in the Fintech Series, issued under section 7(1)(a) of the Financial Services Act 2007, the FSC seeks to provide clarifications to its licensees and stakeholders on its position regarding investment in Digital Assets, including Cryptocurrencies.
This Guidance Note discuss the following aspects in detail:
- Digital Assets
- Cryptocurrencies are not legal tender in Mauritius
- Digital Assets and Cryptocurrencies as an asset-class
- Investments in Digital Assets and Cryptocurrencies not protected by any statutory compensation arrangements in Mauritius
Please click HERE to read the detailed Guidance Note.
Source: FSC Mauritius