07 Mar Mauritius FSC implements new crypto regulation
The Mauritian Financial Services Commission (FSC) has established a regulatory framework for digital asset custodian services, according to an official draft published on Feb. 8 according to CoinTelegraph.
The new regulation is effective from 1 March 2019 and allows financial services companies to legally be custodians of digital cryptocurrency assets. The island wants to be a pioneer in regulation of custodian services for digital assets.
The legislation requires companies to comply with the
This framework has been developed following consultations with the Organisation for Economic Cooperation and Development (OECD) on the governance and regulation of digital financial assets such as cryptocurrencies.