The financial services Commission of Mauritius (FSC) has announced that from March 1 the country will enter into force, the rules contained in the reference document, which was presented in draft form in November last year, and is now accepted and describes the regulation cryptomaterial services. Thus, the Republic of Mauritius is becoming “the world’s first jurisdiction that offers a regulated environment for the storage of digital assets.”
Reportedly, this initiative is part of a plan to create a FINTECH hub for Africa. Prime Minister Pravin Kumar Jugnauth (Pravind Kumar Jugnauth) stated that, “in making this regulatory legal document a revolution in FINTECH industry globally, the government reaffirms its commitment to the acceleration of the country in the era of digital economy growth”.
To read the document after its publication in the official government Gazette, but from the message of the FSC follow that the holders of the license for activities with use of scriptaction will require to follow the best international standards and practices practices of combating money laundering and financing of terrorism. In addition, the document addresses the issues of risk management, storage keys for access to assets, reporting and providing clients with information about the company and its reserves.
We will remind that the government of South Africa in the beginning of the year established a working group on the regulation of cryptocurrencies. In Venezuela, entered into force decree No. 41.575 on the Integral system of scriptaction. Regulation of kriptonyte came to the Philippines, a February 15 new regulations blockchain services will start to operate in China. In addition, the financial Supervisory authority UK (FCA) published a consultation document on scriptactive and intends to submit it in final form this summer. And the financial services Agency of Japan (FSA) has created the final version of the report, based on which the law may introduce new requirements for the regulation of kryptonyte.