Mauritius Financial Commission Releases Draft Regulation for Crypto Custodian Services

Mauritius’s financial commission has released draft regulations for crypto custodian services, requiring the maintenance of at least $14,000 in unimpaired capital.

The Financial Services Commission (FSC) of the Republic of Mauritius has released a draft regulatory framework for crypto custodian services, according to an official document posted on Nov. 5.

According to the announcement, the island country aims to establish regulation for custodian services for digital assets in order to enable users of crypto custodian services to have a due level of safety.

According to the draft regulation, the FSC will issue a custodian service license that will allow an entity to operate as a holder of digital assets as well as to function as safe keeper of the assets. In order to acquire the license, the holder will be required to comply with anti-money-laundering (AML) and counter-terrorism-financing (CFT) laws,…

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2018-11-07 17:23:00

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