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Mauritius points steering notes on safety tokens

The Monetary Providers Fee (FSC) stays extremely supportive of Fintech-related initiatives in Mauritius. On this respect, the FSC now takes a step additional in guaranteeing extra regulatory certainty with the difficulty of Steerage Notes on the Safety Token Buying and selling Methods below part 7(1) (a) of the Monetary Providers Act 2007.

The aim of the Steerage Word is to supply for the implementation of a typical set of requirements for the licensing of Safety Token Buying and selling Methods in Mauritius. Whereas commenting on the discharge, Mr Dhanesswurnath Thakoor, the Chief Govt of the FSC declared that:

“As a part of our core technique, the FSC is aiming at positioning Mauritius as a regional hub of sound reputation within the subject of Fintech. The publication of a
Steerage Word on Safety Tokens Providing (STO) and Safety Tokens Buying and selling Methods is one other stepping stone in constructing an open and clear regulatory regime for Fintech in Mauritius. We have already got a rising curiosity in these particular licences and predict to obtain a number of purposes within the upcoming months”.

The Steerage Notes additionally spotlight the necessities to adjust to Anti-Cash Laundering and Combating the Financing of Terrorism (AML/CFT) legal guidelines and codes, knowledge safety legal guidelines, in addition to, on the implementation of fine market apply for an environment friendly,
clear and built-in monetary market.

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Concerning the FSC

The FSC is the built-in regulator for the non-bank monetary companies sector and world enterprise. The imaginative and prescient of the Fee is to be an internationally recognised Monetary Supervisor dedicated to the sustained improvement of Mauritius. As a sound and aggressive Monetary Providers Centre In finishing up its mission, the FSC goals to advertise the event, equity, effectivity and transparency of monetary establishments and capital markets in Mauritius; suppress crime and malpractices to supply safety to members of the general public investing in non-banking monetary merchandise; make sure the soundness and stability of the monetary system in Mauritius.

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For extra info, obtain the complete Steerage Notes.


Picture by Xavier Coiffic on Unsplash

Jung Min-seo

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