Mauritius

Retail_Trading_Status

Allowed-Regulated Unknown

Analysis ID: #519
Version: Latest
Created: 2025-06-26 13:23
Run: a8d5bc2c...
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Workflow Stage: Live

Executive Summary

Mauritius has established a formal regulatory framework for virtual assets, including cryptocurrencies. The primary legislation is the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), and the main regulator is the Financial Services Commission (FSC) of Mauritius, which licenses and oversees VASPs and ITO issuers. The framework emphasizes AML/CFT compliance through acts like the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA), and virtual assets are not considered legal tender.

Detailed Explanation

Mauritius permits individual citizens and residents to engage in buying, selling, and holding cryptocurrencies, operating under a regulated framework overseen by the Financial Services Commission (FSC) of Mauritius. The primary legislation governing this sector is the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), which came into force on February 7, 2022. This act provides a regulatory structure for Virtual Asset Service Providers (VASPs) and issuers of Initial Token Offerings (ITOs). The FSC is responsible for licensing, regulating, monitoring, and supervising entities dealing with virtual assets.

The regulatory framework places significant emphasis on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations. VASPs and ITO issuers are required to comply with the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA), the Financial Intelligence and Anti-Money Laundering Regulations 2018 (FIAMLR), and specific AML/CFT guidance notes issued by the FSC for the virtual asset sector. These obligations include implementing robust Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures. For example, VASPs must apply full CDD before entering a business relationship, when a transaction equals or exceeds MUR 100,000 (approximately USD 2,200), if there is a suspicion of money laundering, or if there are doubts about prior customer identity details. Enhanced AML/CFT obligations, including mandatory transaction monitoring systems and stricter beneficial ownership disclosures, were anticipated to come into effect from March 2025.

While cryptocurrencies are recognized as a digital representation of value and can be digitally traded or transferred, they are not considered legal tender in Mauritius. This means there is no obligation to accept them as a means of payment. The Bank of Mauritius is also exploring the potential of a Central Bank Digital Currency (CBDC), the Digital Rupee, which would be distinct from privately issued crypto assets.

The FSC has issued warnings that investments in digital assets and cryptocurrencies are high-risk and may not be suitable for retail investors. Furthermore, investments in these assets are not protected by any statutory compensation arrangements in Mauritius. Despite these warnings, the framework allows for retail participation, provided individuals transact with VASPs licensed and regulated by the FSC. The FSC advises investors to transact only with licensed VASPs and registered issuers of ITOs and to conduct thorough research before investing.

The regulatory landscape continues to evolve. In early 2024, the FSC issued guidance notes clarifying the treatment of staking services and Decentralised Autonomous Organisations (DAOs) under the VAITOS Act, requiring them to apply for appropriate VASP licenses if operating within or targeting residents of Mauritius. Additionally, the Finance (Miscellaneous Provisions) Act 2024 amended the Income Tax Act to include virtual assets and virtual tokens in the definition of "securities," impacting their tax treatment, with gains on the disposal of securities being exempt from taxation.

Summary Points

## Retail Trading of Virtual Assets in Mauritius: Regulatory Overview (Report Date: 2025-06-26)

**1. Overall Regulatory Status:**

*   **Allowed-Regulated:** Individual citizens and residents are legally permitted to buy, sell, and hold cryptocurrencies.
*   Subject to a comprehensive regulatory environment.

**2. Key Regulatory Bodies:**

*   **Financial Services Commission (FSC) of Mauritius:**
    *   Primary regulator for virtual asset services.
    *   Responsible for:
        *   Licensing
        *   Regulating
        *   Monitoring
        *   Supervising entities involved in virtual asset services.

**3. Important Legislation and Regulations:**

*   **Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act):**
    *   Came into force on February 7, 2022.
    *   Provides for the regulation of:
        *   Virtual Asset Service Providers (VASPs)
        *   Issuers of Initial Token Offerings (ITOs)
*   **Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA)**
*   **Financial Intelligence and Anti-Money Laundering Regulations 2018 (FIAMLR)**
*   **AML/CFT Guidance Notes for Virtual Asset Service Providers & Issuers of Initial Token Offerings (issued by the FSC)**
*   **Finance (Miscellaneous Provisions) Act 2024:**
    *   Amended the Income Tax Act to include virtual assets and virtual tokens in the definition of "securities."

**4. Compliance Requirements:**

*   **AML/CFT Obligations:** VASPs and ITO issuers must comply with FIAMLA, FIAMLR, and FSC guidance notes.
*   **Know Your Customer (KYC) and Customer Due Diligence (CDD):**
    *   VASPs must apply full CDD:
        *   Before entering a business relationship.
        *   When a transaction equals or exceeds MUR 100,000 (approximately USD 2,200).
        *   If there is a suspicion of money laundering.
        *   If prior documents or customer identity details are in doubt.
*   **Transaction Monitoring:** Mandatory transaction monitoring systems are required.
*   **Beneficial Ownership Disclosures:** Stricter beneficial ownership disclosures are required.

**5. Notable Restrictions and Limitations:**

*   **Not Legal Tender:** Cryptocurrencies are not considered legal tender in Mauritius. There is no obligation to accept them as a means of payment.
*   **Investor Warnings:** The FSC has issued warnings that investments in digital assets and cryptocurrencies are high-risk and may not be suitable for retail investors.
*   **No Statutory Compensation:** Investments in digital assets are not protected by any statutory compensation arrangements in Mauritius.

**6. Recent Developments and Changes:**

*   **Early 2024 FSC Guidance:**
    *   Clarified the treatment of staking services and Decentralised Autonomous Organisations (DAOs) under the VAITOS Act.
    *   Requires them to apply for appropriate VASP licenses if operating within or targeting residents of Mauritius.
*   **Finance (Miscellaneous Provisions) Act 2024 (Taxation):**
    *   Amended the Income Tax Act to include virtual assets and virtual tokens in the definition of "securities."
    *   Gains on the disposal of securities are exempt from taxation.
*   **Digital Rupee (CBDC):** The Bank of Mauritius is exploring the potential of a Central Bank Digital Currency (CBDC), the Digital Rupee, which would be distinct from privately issued crypto assets.

**7. Advice to Investors:**

*   Transact only with licensed VASPs and registered issuers of ITOs by the FSC.
*   Verify the register of licensees on the FSC's website.
*   Conduct thorough research before investing.

Full Analysis Report

Retail_Trading_Status: Mauritius

Report Date: 2025-06-26

Topic: Retail_Trading_Status

Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

1. Identified Current Status: Allowed-Regulated

2. Detailed Narrative Explanation:

Mauritius has established a formal regulatory framework for activities related to virtual assets, including cryptocurrencies, positioning itself as a jurisdiction open to financial technology innovation while ensuring compliance with international standards. The primary legislation governing this sector is the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), which came into force on February 7, 2022. This Act provides for the regulation of Virtual Asset Service Providers (VASPs) and issuers of Initial Token Offerings (ITOs).

Individual citizens and residents in Mauritius are legally permitted to buy, sell, and hold cryptocurrencies. However, these activities are subject to a comprehensive regulatory environment overseen by the Financial Services Commission (FSC) of Mauritius. The FSC is responsible for licensing, regulating, monitoring, and supervising entities involved in virtual asset services.

The regulatory framework emphasizes Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations. VASPs and ITO issuers are required to comply with the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA), the Financial Intelligence and Anti-Money Laundering Regulations 2018 (FIAMLR), and specific AML/CFT guidance notes issued by the FSC for the virtual asset sector. These include implementing robust Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures. For instance, VASPs must apply full CDD before entering a business relationship, when a transaction equals or exceeds MUR 100,000 (approximately USD 2,200), if there's suspicion of money laundering, or if there are doubts about prior customer identity details. Enhanced AML/CFT obligations, including mandatory transaction monitoring systems and stricter beneficial ownership disclosures, were anticipated to come into effect from March 2025.

While cryptocurrencies are recognized as a digital representation of value and can be digitally traded or transferred, they are not considered legal tender in Mauritius. This means there is no obligation to accept them as a means of payment. The Bank of Mauritius is also exploring the potential of a Central Bank Digital Currency (CBDC), the Digital Rupee, which would be distinct from privately issued crypto assets.

The FSC has issued warnings that investments in digital assets and cryptocurrencies are high-risk and may not be suitable for retail investors. Furthermore, investments in these assets are not protected by any statutory compensation arrangements in Mauritius. Despite these warnings, the framework allows for retail participation, provided individuals transact with VASPs licensed and regulated by the FSC. The FSC advises investors to transact only with licensed VASPs and registered issuers of ITOs and to conduct thorough research before investing.

The regulatory landscape continues to evolve. In early 2024, the FSC issued guidance notes clarifying the treatment of staking services and Decentralised Autonomous Organisations (DAOs) under the VAITOS Act, requiring them to apply for appropriate VASP licenses if operating within or targeting residents of Mauritius. Additionally, the Finance (Miscellaneous Provisions) Act 2024 amended the Income Tax Act to include virtual assets and virtual tokens in the definition of "securities," impacting their tax treatment, with gains on the disposal of securities being exempt from taxation.

3. Specific, Relevant Text Excerpts:

The Virtual Asset and Initial Token Offering Services Act, 2021 (VAITOS Act): "The Virtual Asset and Initial Token Offering Services Act, 2021 (VAITOS Act) which came into force on 7 February 2022 established regulatory guidelines over virtual assets. The VAITOS Act consists of provisions regarding licensing, registration, controllers and beneficial owners, financial obligations and duties of virtual asset service providers."
Role of the Financial Services Commission (FSC): "The Financial Services Commission (FSC) is responsible for supervising and regulating the industry under the VAITOS Act. Empowered by the legislation, the FSC has the authority to issue rules (FSC Rules) and regulations providing guidance on compliance in connection with virtual assets in Mauritius." "The FSC being the regulator for the non-bank financial services sector and global business, is mandated to license, regulate, monitor and supervise the conduct of business activities dealing with virtual and digital assets."
AML/CFT Obligations: "The FSC licensees (more specifically under the Virtual Asset and Initial Token Offering Services Act 2021 (the VAITOS Act)) are equally subject to the FSC's AML/CFT Handbook. To cater for this novel field, in February 2022, the FSC issued the AML/CFT Guidance Notes for Virtual Asset Service Providers & Issuers of Initial Token Offerings which set out the measures which entities regulated under the VAITOS Act should apply for the prevention of money laundering." "Crypto companies are classified as reporting persons and must comply with full AML/CFT obligations, regardless of whether they handle fiat or only crypto."
KYC Requirements: "VASPs must apply full Customer Due Diligence (CDD): Before entering a business relationship. When a transaction equals or exceeds MUR 100,000 (~USD 2,200), whether single or linked; If there is a suspicion of money laundering, regardless of transaction size; If prior documents or customer identity details are in doubt."
Legal Tender Status: "In Mauritius, crypto assets do not have legal tender status, that is, there is no obligation to accept them as a means of payment." "A Virtual Asset (VA) is a digital representation of value (such as Bitcoin, Ether and other cryptocurrencies) that can be digitally traded or transferred, and may be used for payment or investment purposes. However, VAs (including cryptocurrencies) are not legal tender in Mauritius, unlike fiat currencies."
Investor Warnings: "It must be noted that investments in Digital Assets and Cryptocurrencies are not protected by any statutory compensation arrangements in Mauritius. Due to the high-risk profile of such investments, the FSC considers that they may not be suitable for investment by retail investors." "The FSC classifies crypto-assets as high-risk investments, suitable only for experienced investors."
Advice to Investors: "Transact only with licensed VASPs and registered issuers of ITOs by the FSC. If you have any doubt, verify the register of licensees (available publicly) on the FSC's website for companies duly licensed/registered under the VAITOS Act."
Taxation: "The Finance (Miscellaneous Provisions) Act 2024 has introduced an amendment to the Income Tax Act by redefining the term securities to include virtual assets and virtual tokens. This change has a direct impact on the tax treatment of virtual assets in Mauritius, as gains on the disposal of securities are exempt from taxation."

4. Direct, Accessible URL Links to Specific Sources:

Charltons Quantum (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEG9RfdABmegKm6g9d0bST4oXelNTzCxDG7ewKAThF2DruZ9skitQjVNRcazIPDe0PQ0tJ6yOnDXS9a4Yl9ENWy1YjfYniNKNcQYUmATMTDlFoJhiHbMlUtVuoFP_deC3YbR-Bp9fMiqr_exix5c-SyrmbWItwibf8I2sSV
Freeman Law (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHJPOoOMxQ5GNNdLArYYXhrcvOIBUXnvpZcB9BM4My_WVRNgg7MYM5e3yixs3ibqclovhy9S-NDvWHkdOO8LPp_4nAcZcARdeshKcpWMb5aYTXBTOBZRw9knCm5z2DJDfgTzjiVXPT071_jJw==
Appleby (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEV2cUjc3Z4titONAC94SENtxllvHHr2SiXIQskRs7beEuY0f3zIbSG9ChCBC04WBz3zV7va-f21V2qRB3ewKqhW1G0UQKF0a5d2fNlawFVMUlO4QAMCI0LiyruS-dOxvM6n7263tsTctuoJA6vTpzQmI-KtgI2MPOMxXi_m3RfxiDNylc4Wr_mdTwSlrjaHM1hfdjM2E1Hv3OR1Y7GIXiWRRAbkw==
CMS Law (Vertex AI Search - Crypto Regulation): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFJWUZ6-FJlVm85QLz0kA8ZEr5tTJolVLXguHduxucEEOW1QLpC9MZ4I4CsjT948K1JaqTghSFKOJk1jc2ziFMHWiF_DZZR7lZ5Pl3FPGgME4al0Iwljdtv90yUThjPhxBIVpBVAzxRYDrN7q1_80tisCK1fIQOX2qe4CeCpYicIt_GZW3cAwiXBhPCggL_Lw==
Mielo Group (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH5RFtLHUUWnunLP5jCi6JIEpPjzzPMvxkGgyE2PCxyja156a_2AHj4qilmFH7mS-8_dfo7Gq3QYMunv7VdD1PYcSwtfz0xSoT6_XcexIVeiNKeIqqthy2dANfTK76QhjBS0V6qtEI2p5-Mdw9sgdRUCYvk4WLuUBg3rGl9v3mMvmoiOIQgMjs8c_j5N0FtI2T8IJX65K0=
Bank of Mauritius FAQs (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG7Wecy73iG4iTtiz9dxrlUX56J3Fa3KKIYguh1Z6Z5YCRy5wWWa9KWYg_aNfglYwu5m-uKuS4kLexIzepw3YdJS9rm15-ip-t9d5ysONEGbSURH-mD_Ow=
Platform Africa (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEsCFBKJByXuSk8t7xrJtQO3fc62wQPLqy6nLZIrkidk_TY4kz_1ISN5sxPPJjl7T0MwOiD47QGxjZwDBsQp4HxvNXHdPf4FRt7ecgwAH2sDBmv_A2dkktFyunkkFAJUryt71M0PRjNZzhw_H92JJdXCUJv-CO_ab_H0sQHT3LT25vG_l-fG0BpPpAVhbjmXjwHJKHXDLKEk3Y0KEuUN0mHZPn-Q_E=
UPay Blog (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGWKfD7o5UU5-tc1pDsNDeOieWEjSQNjQGIlBja2Fiqfq-hHc_v53EQhKi5vx5DhQdqd-bRJOf5rwvddbmjFpD5wCkpI-y8Jpli52wElSNpCntK0dUKBtjhV6Xm9HH67lgU8VnlQeWDihLpTA==
Financial Services Commission - VAITOS Act Guide (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGIgyvpDmPFgwmlwfIgGmE0JI78PJVoprTdnOU2OR0-AViZNkEK7pCva_Ue4rfUeGukuXgagwY9U7wUISt-ZrUrLhVHmUT-aUp4xQzQ3_9ie4ICM5umVLo-H8lshFJPtzLSfuHlcu6mg17atIvYvYUPP7Bv78I7TWgcRu2N5x0sdA==
Chambers and Partners (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGqVb7fFkPYC0BCb0PGGzRN03qsUo8ojURveGHsaTp7oVojaA9eN65pqQeGa-aW_TXUMIGEvoaaJY_jH9IvMfKVh__-m_9GM7UHxm5GYPbLudyK8aS_P8ULhqG-wKiOPxpNJIxhqaxCDmkfnZEq5Syut1WaO1gGW6o9zS81VEr0Fsp5uB3AGXknpKjCdmdwMQ6tZf4xklyV0y9SEdrhzZBPy87W1IzU
Pro Mauritius (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFcCSAIK3kbrD_nxedHFLeqp0ElOQeqLd5czYCH_YirvvSaez4-9JSJ8y7YEvwAMGecFVor0tp2eVP9pTR6wAdOApl0tEsi46aPZ1o9TEYdk0D5KaX21UxSiR5o4xuy98APebkF6yQbBcUnJwIy3YgXL-D6HiDLxZFu
Financial Services Commission - AML/CFT Guidance Notes (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFsYVajp1YteJ-UKi4Rjj_ULBHEn288HmqJgBiQjn0dLkppl8Ym8BDfta7tAzS313Pvv35BmJr1SNxlXXXz8s-4oJxZ2nfDLlwjCee_C2rzOwVaJO3sHiO4zngVtgzNoqrsJWxvSqjjSZg71M-hvFNfesa3LtAB6NaOd2KNlvHeBGCFWRGMEUHvJDyAtGZP-nNvq0U=
UEEx Technology (Vertex AI Search): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG4Ajt_yMVbGXnqBmxqfL9qi4S6FrLlVyj0x8pOGeLQCQXd9JkYCj4v8fJIp0e1iitdNFvx3Vc4tVMCTEJnIig0hqduDMLO0DvMi9nQy_h_C0LuEuqetV9cU1qVxjc_rtlpLYeb8hrtk-XhwCxjhrQqVmrnQN_nyeNuTg==

## Retail_Trading_Status: Mauritius

**Report Date:** 2025-06-26

**Topic:** Retail_Trading_Status

**Description:** Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

---

**1. Identified Current Status:** Allowed-Regulated

---

**2. Detailed Narrative Explanation:**

Mauritius has established a formal regulatory framework for activities related to virtual assets, including cryptocurrencies, positioning itself as a jurisdiction open to financial technology innovation while ensuring compliance with international standards. The primary legislation governing this sector is the **Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act)**, which came into force on February 7, 2022. This Act provides for the regulation of Virtual Asset Service Providers (VASPs) and issuers of Initial Token Offerings (ITOs).

Individual citizens and residents in Mauritius are legally permitted to buy, sell, and hold cryptocurrencies. However, these activities are subject to a comprehensive regulatory environment overseen by the **Financial Services Commission (FSC) of Mauritius**. The FSC is responsible for licensing, regulating, monitoring, and supervising entities involved in virtual asset services.

The regulatory framework emphasizes Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations. VASPs and ITO issuers are required to comply with the **Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA)**, the Financial Intelligence and Anti-Money Laundering Regulations 2018 (FIAMLR), and specific AML/CFT guidance notes issued by the FSC for the virtual asset sector. These include implementing robust Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures. For instance, VASPs must apply full CDD before entering a business relationship, when a transaction equals or exceeds MUR 100,000 (approximately USD 2,200), if there's suspicion of money laundering, or if there are doubts about prior customer identity details. Enhanced AML/CFT obligations, including mandatory transaction monitoring systems and stricter beneficial ownership disclosures, were anticipated to come into effect from March 2025.

While cryptocurrencies are recognized as a digital representation of value and can be digitally traded or transferred, they are **not considered legal tender** in Mauritius. This means there is no obligation to accept them as a means of payment. The Bank of Mauritius is also exploring the potential of a Central Bank Digital Currency (CBDC), the Digital Rupee, which would be distinct from privately issued crypto assets.

The FSC has issued warnings that investments in digital assets and cryptocurrencies are high-risk and may not be suitable for retail investors. Furthermore, investments in these assets are not protected by any statutory compensation arrangements in Mauritius. Despite these warnings, the framework allows for retail participation, provided individuals transact with VASPs licensed and regulated by the FSC. The FSC advises investors to transact only with licensed VASPs and registered issuers of ITOs and to conduct thorough research before investing.

The regulatory landscape continues to evolve. In early 2024, the FSC issued guidance notes clarifying the treatment of staking services and Decentralised Autonomous Organisations (DAOs) under the VAITOS Act, requiring them to apply for appropriate VASP licenses if operating within or targeting residents of Mauritius. Additionally, the Finance (Miscellaneous Provisions) Act 2024 amended the Income Tax Act to include virtual assets and virtual tokens in the definition of "securities," impacting their tax treatment, with gains on the disposal of securities being exempt from taxation.

---

**3. Specific, Relevant Text Excerpts:**

*   **The Virtual Asset and Initial Token Offering Services Act, 2021 (VAITOS Act):** "The Virtual Asset and Initial Token Offering Services Act, 2021 (VAITOS Act) which came into force on 7 February 2022 established regulatory guidelines over virtual assets. The VAITOS Act consists of provisions regarding licensing, registration, controllers and beneficial owners, financial obligations and duties of virtual asset service providers."
*   **Role of the Financial Services Commission (FSC):** "The Financial Services Commission (FSC) is responsible for supervising and regulating the industry under the VAITOS Act. Empowered by the legislation, the FSC has the authority to issue rules (FSC Rules) and regulations providing guidance on compliance in connection with virtual assets in Mauritius." "The FSC being the regulator for the non-bank financial services sector and global business, is mandated to license, regulate, monitor and supervise the conduct of business activities dealing with virtual and digital assets."
*   **AML/CFT Obligations:** "The FSC licensees (more specifically under the Virtual Asset and Initial Token Offering Services Act 2021 (the VAITOS Act)) are equally subject to the FSC's AML/CFT Handbook. To cater for this novel field, in February 2022, the FSC issued the AML/CFT Guidance Notes for Virtual Asset Service Providers & Issuers of Initial Token Offerings which set out the measures which entities regulated under the VAITOS Act should apply for the prevention of money laundering." "Crypto companies are classified as reporting persons and must comply with full AML/CFT obligations, regardless of whether they handle fiat or only crypto."
*   **KYC Requirements:** "VASPs must apply full Customer Due Diligence (CDD): Before entering a business relationship. When a transaction equals or exceeds MUR 100,000 (~USD 2,200), whether single or linked; If there is a suspicion of money laundering, regardless of transaction size; If prior documents or customer identity details are in doubt."
*   **Legal Tender Status:** "In Mauritius, crypto assets do not have legal tender status, that is, there is no obligation to accept them as a means of payment." "A Virtual Asset (VA) is a digital representation of value (such as Bitcoin, Ether and other cryptocurrencies) that can be digitally traded or transferred, and may be used for payment or investment purposes. However, VAs (including cryptocurrencies) are not legal tender in Mauritius, unlike fiat currencies."
*   **Investor Warnings:** "It must be noted that investments in Digital Assets and Cryptocurrencies are not protected by any statutory compensation arrangements in Mauritius. Due to the high-risk profile of such investments, the FSC considers that they may not be suitable for investment by retail investors." "The FSC classifies crypto-assets as high-risk investments, suitable only for experienced investors."
*   **Advice to Investors:** "Transact only with licensed VASPs and registered issuers of ITOs by the FSC. If you have any doubt, verify the register of licensees (available publicly) on the FSC's website for companies duly licensed/registered under the VAITOS Act."
*   **Taxation:** "The Finance (Miscellaneous Provisions) Act 2024 has introduced an amendment to the Income Tax Act by redefining the term securities to include virtual assets and virtual tokens. This change has a direct impact on the tax treatment of virtual assets in Mauritius, as gains on the disposal of securities are exempt from taxation."

---

**4. Direct, Accessible URL Links to Specific Sources:**

*   **Charltons Quantum (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEG9RfdABmegKm6g9d0bST4oXelNTzCxDG7ewKAThF2DruZ9skitQjVNRcazIPDe0PQ0tJ6yOnDXS9a4Yl9ENWy1YjfYniNKNcQYUmATMTDlFoJhiHbMlUtVuoFP_deC3YbR-Bp9fMiqr_exix5c-SyrmbWItwibf8I2sSV](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEG9RfdABmegKm6g9d0bST4oXelNTzCxDG7ewKAThF2DruZ9skitQjVNRcazIPDe0PQ0tJ6yOnDXS9a4Yl9ENWy1YjfYniNKNcQYUmATMTDlFoJhiHbMlUtVuoFP_deC3YbR-Bp9fMiqr_exix5c-SyrmbWItwibf8I2sSV)
*   **Freeman Law (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHJPOoOMxQ5GNNdLArYYXhrcvOIBUXnvpZcB9BM4My_WVRNgg7MYM5e3yixs3ibqclovhy9S-NDvWHkdOO8LPp_4nAcZcARdeshKcpWMb5aYTXBTOBZRw9knCm5z2DJDfgTzjiVXPT071_jJw==](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHJPOoOMxQ5GNNdLArYYXhrcvOIBUXnvpZcB9BM4My_WVRNgg7MYM5e3yixs3ibqclovhy9S-NDvWHkdOO8LPp_4nAcZcARdeshKcpWMb5aYTXBTOBZRw9knCm5z2DJDfgTzjiVXPT071_jJw==)
*   **Appleby (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEV2cUjc3Z4titONAC94SENtxllvHHr2SiXIQskRs7beEuY0f3zIbSG9ChCBC04WBz3zV7va-f21V2qRB3ewKqhW1G0UQKF0a5d2fNlawFVMUlO4QAMCI0LiyruS-dOxvM6n7263tsTctuoJA6vTpzQmI-KtgI2MPOMxXi_m3RfxiDNylc4Wr_mdTwSlrjaHM1hfdjM2E1Hv3OR1Y7GIXiWRRAbkw==](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEV2cUjc3Z4titONAC94SENtxllvHHr2SiXIQskRs7beEuY0f3zIbSG9ChCBC04WBz3zV7va-f21V2qRB3ewKqhW1G0UQKF0a5d2fNlawFVMUlO4QAMCI0LiyruS-dOxvM6n7263tsTctuoJA6vTpzQmI-KtgI2MPOMxXi_m3RfxiDNylc4Wr_mdTwSlrjaHM1hfdjM2E1Hv3OR1Y7GIXiWRRAbkw==)
*   **CMS Law (Vertex AI Search - Crypto Regulation):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFJWUZ6-FJlVm85QLz0kA8ZEr5tTJolVLXguHduxucEEOW1QLpC9MZ4I4CsjT948K1JaqTghSFKOJk1jc2ziFMHWiF_DZZR7lZ5Pl3FPGgME4al0Iwljdtv90yUThjPhxBIVpBVAzxRYDrN7q1_80tisCK1fIQOX2qe4CeCpYicIt_GZW3cAwiXBhPCggL_Lw==](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFJWUZ6-FJlVm85QLz0kA8ZEr5tTJolVLXguHduxucEEOW1QLpC9MZ4I4CsjT948K1JaqTghSFKOJk1jc2ziFMHWiF_DZZR7lZ5Pl3FPGgME4al0Iwljdtv90yUThjPhxBIVpBVAzxRYDrN7q1_80tisCK1fIQOX2qe4CeCpYicIt_GZW3cAwiXBhPCggL_Lw==)
*   **Mielo Group (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH5RFtLHUUWnunLP5jCi6JIEpPjzzPMvxkGgyE2PCxyja156a_2AHj4qilmFH7mS-8_dfo7Gq3QYMunv7VdD1PYcSwtfz0xSoT6_XcexIVeiNKeIqqthy2dANfTK76QhjBS0V6qtEI2p5-Mdw9sgdRUCYvk4WLuUBg3rGl9v3mMvmoiOIQgMjs8c_j5N0FtI2T8IJX65K0=](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH5RFtLHUUWnunLP5jCi6JIEpPjzzPMvxkGgyE2PCxyja156a_2AHj4qilmFH7mS-8_dfo7Gq3QYMunv7VdD1PYcSwtfz0xSoT6_XcexIVeiNKeIqqthy2dANfTK76QhjBS0V6qtEI2p5-Mdw9sgdRUCYvk4WLuUBg3rGl9v3mMvmoiOIQgMjs8c_j5N0FtI2T8IJX65K0=)
*   **Bank of Mauritius FAQs (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG7Wecy73iG4iTtiz9dxrlUX56J3Fa3KKIYguh1Z6Z5YCRy5wWWa9KWYg_aNfglYwu5m-uKuS4kLexIzepw3YdJS9rm15-ip-t9d5ysONEGbSURH-mD_Ow=](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG7Wecy73iG4iTtiz9dxrlUX56J3Fa3KKIYguh1Z6Z5YCRy5wWWa9KWYg_aNfglYwu5m-uKuS4kLexIzepw3YdJS9rm15-ip-t9d5ysONEGbSURH-mD_Ow=)
*   **Platform Africa (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEsCFBKJByXuSk8t7xrJtQO3fc62wQPLqy6nLZIrkidk_TY4kz_1ISN5sxPPJjl7T0MwOiD47QGxjZwDBsQp4HxvNXHdPf4FRt7ecgwAH2sDBmv_A2dkktFyunkkFAJUryt71M0PRjNZzhw_H92JJdXCUJv-CO_ab_H0sQHT3LT25vG_l-fG0BpPpAVhbjmXjwHJKHXDLKEk3Y0KEuUN0mHZPn-Q_E=](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEsCFBKJByXuSk8t7xrJtQO3fc62wQPLqy6nLZIrkidk_TY4kz_1ISN5sxPPJjl7T0MwOiD47QGxjZwDBsQp4HxvNXHdPf4FRt7ecgwAH2sDBmv_A2dkktFyunkkFAJUryt71M0PRjNZzhw_H92JJdXCUJv-CO_ab_H0sQHT3LT25vG_l-fG0BpPpAVhbjmXjwHJKHXDLKEk3Y0KEuUN0mHZPn-Q_E=)
*   **UPay Blog (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGWKfD7o5UU5-tc1pDsNDeOieWEjSQNjQGIlBja2Fiqfq-hHc_v53EQhKi5vx5DhQdqd-bRJOf5rwvddbmjFpD5wCkpI-y8Jpli52wElSNpCntK0dUKBtjhV6Xm9HH67lgU8VnlQeWDihLpTA==](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGWKfD7o5UU5-tc1pDsNDeOieWEjSQNjQGIlBja2Fiqfq-hHc_v53EQhKi5vx5DhQdqd-bRJOf5rwvddbmjFpD5wCkpI-y8Jpli52wElSNpCntK0dUKBtjhV6Xm9HH67lgU8VnlQeWDihLpTA==)
*   **Financial Services Commission - VAITOS Act Guide (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGIgyvpDmPFgwmlwfIgGmE0JI78PJVoprTdnOU2OR0-AViZNkEK7pCva_Ue4rfUeGukuXgagwY9U7wUISt-ZrUrLhVHmUT-aUp4xQzQ3_9ie4ICM5umVLo-H8lshFJPtzLSfuHlcu6mg17atIvYvYUPP7Bv78I7TWgcRu2N5x0sdA==](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGIgyvpDmPFgwmlwfIgGmE0JI78PJVoprTdnOU2OR0-AViZNkEK7pCva_Ue4rfUeGukuXgagwY9U7wUISt-ZrUrLhVHmUT-aUp4xQzQ3_9ie4ICM5umVLo-H8lshFJPtzLSfuHlcu6mg17atIvYvYUPP7Bv78I7TWgcRu2N5x0sdA==)
*   **Chambers and Partners (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGqVb7fFkPYC0BCb0PGGzRN03qsUo8ojURveGHsaTp7oVojaA9eN65pqQeGa-aW_TXUMIGEvoaaJY_jH9IvMfKVh__-m_9GM7UHxm5GYPbLudyK8aS_P8ULhqG-wKiOPxpNJIxhqaxCDmkfnZEq5Syut1WaO1gGW6o9zS81VEr0Fsp5uB3AGXknpKjCdmdwMQ6tZf4xklyV0y9SEdrhzZBPy87W1IzU](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGqVb7fFkPYC0BCb0PGGzRN03qsUo8ojURveGHsaTp7oVojaA9eN65pqQeGa-aW_TXUMIGEvoaaJY_jH9IvMfKVh__-m_9GM7UHxm5GYPbLudyK8aS_P8ULhqG-wKiOPxpNJIxhqaxCDmkfnZEq5Syut1WaO1gGW6o9zS81VEr0Fsp5uB3AGXknpKjCdmdwMQ6tZf4xklyV0y9SEdrhzZBPy87W1IzU)
*   **Pro Mauritius (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFcCSAIK3kbrD_nxedHFLeqp0ElOQeqLd5czYCH_YirvvSaez4-9JSJ8y7YEvwAMGecFVor0tp2eVP9pTR6wAdOApl0tEsi46aPZ1o9TEYdk0D5KaX21UxSiR5o4xuy98APebkF6yQbBcUnJwIy3YgXL-D6HiDLxZFu](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFcCSAIK3kbrD_nxedHFLeqp0ElOQeqLd5czYCH_YirvvSaez4-9JSJ8y7YEvwAMGecFVor0tp2eVP9pTR6wAdOApl0tEsi46aPZ1o9TEYdk0D5KaX21UxSiR5o4xuy98APebkF6yQbBcUnJwIy3YgXL-D6HiDLxZFu)
*   **Financial Services Commission - AML/CFT Guidance Notes (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFsYVajp1YteJ-UKi4Rjj_ULBHEn288HmqJgBiQjn0dLkppl8Ym8BDfta7tAzS313Pvv35BmJr1SNxlXXXz8s-4oJxZ2nfDLlwjCee_C2rzOwVaJO3sHiO4zngVtgzNoqrsJWxvSqjjSZg71M-hvFNfesa3LtAB6NaOd2KNlvHeBGCFWRGMEUHvJDyAtGZP-nNvq0U=](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFsYVajp1YteJ-UKi4Rjj_ULBHEn288HmqJgBiQjn0dLkppl8Ym8BDfta7tAzS313Pvv35BmJr1SNxlXXXz8s-4oJxZ2nfDLlwjCee_C2rzOwVaJO3sHiO4zngVtgzNoqrsJWxvSqjjSZg71M-hvFNfesa3LtAB6NaOd2KNlvHeBGCFWRGMEUHvJDyAtGZP-nNvq0U=)
*   **UEEx Technology (Vertex AI Search):** [https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG4Ajt_yMVbGXnqBmxqfL9qi4S6FrLlVyj0x8pOGeLQCQXd9JkYCj4v8fJIp0e1iitdNFvx3Vc4tVMCTEJnIig0hqduDMLO0DvMi9nQy_h_C0LuEuqetV9cU1qVxjc_rtlpLYeb8hrtk-XhwCxjhrQqVmrnQN_nyeNuTg==](https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG4Ajt_yMVbGXnqBmxqfL9qi4S6FrLlVyj0x8pOGeLQCQXd9JkYCj4v8fJIp0e1iitdNFvx3Vc4tVMCTEJnIig0hqduDMLO0DvMi9nQy_h_C0LuEuqetV9cU1qVxjc_rtlpLYeb8hrtk-XhwCxjhrQqVmrnQN_nyeNuTg==)

Web Sources (13)

Sources discovered via web search grounding

Search queries used (6)

current status of retail cryptocurrency trading in Mauritius
Mauritius Financial Services Commission cryptocurrency regulations
Bank of Mauritius cryptocurrency policy
Mauritius AML KYC cryptocurrency guidelines
laws governing cryptocurrency in Mauritius for individuals
retail crypto trading legal framework Mauritius 2024 2025

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