Mauritius
Mauritius operates Africa's most complete virtual asset statute. VAITOS 2021 created five licence classes under the FSC, and the jurisdiction exited the FATF grey list in 2021 after substantial AML reforms. It positions itself as the licensing gateway for Africa-facing digital asset firms.
Comprehensive
Financial Services Commission (FSC Mauritius)
Virtual Asset and Initial Token Offering Services Act (VAITOS) 2021 — five licence classes covering exchanges, custodians, brokers, advisers and ITO issuers.
FIAMLA obligations extended to VASPs; FSC AML/CFT Handbook; risk-based CDD and STR filings to the FIU.
Implemented — VAITOS Rules require originator/beneficiary data for transfers above MUR 44,000.
No capital gains tax; trading income taxable at 15%; ITO proceeds assessed case-by-case.
FSC disclosure standards, client asset segregation, and complaints framework for VAITOS licensees.
- —Small domestic market — most licensees are export-oriented
- —Enforcement track record remains thin relative to framework maturity
- —Substance requirements tightening for offshore structures
Africa's first comprehensive virtual asset licensing statute; FATF-aligned.
Brings VASPs fully within the AML/CFT perimeter.
Proposed conduct rules for custodial staking under Class S endorsement.
Regional custody hub strategy gains momentum.
- 2021
VAITOS Act enacted; FATF grey-list exit
- 2022
First exchange and custodian licences issued
- 2024
AML/CFT Handbook updated for VASPs
- 2026
Staking conduct rules under consultation