Regulatory Alerts2026-08-12
Added
Guidance Notes on Stablecoins
No person shall issue or provide stablecoin-related services in or from Mauritius without relevant licences under the Virtual Asset and Initial Token Offerings Services Act 2021 and, where applicable, a no-objection or licence from the Bank of Mauritius, and the Financial Services Commission will not consider applications for algorithmic stablecoins or yield-bearing stablecoins. Issuers must maintain minimum unimpaired stated capital of the higher of MUR 5 million or 50 percent of annual operating expenses, hold liquid assets valued at the higher of 50 percent of annual operating expenses or an amount sufficient for orderly winding-up, and ensure reserve assets cover the full value of stablecoins in circulation. Reserve assets must be segregated, valued on a marked-to-market basis daily, and publicly disclosed at least daily for value and weekly for composition, while redemption requests must be met at par value within 5 days and independent experts must attest to reserve asset values monthly. Investors are reminded that stablecoins are not recognized as legal tender and investments are not protected by any statutory compensation arrangements in Mauritius.
More like this from FSC
FSC published 1 document in the last 30 days. We email you each new one the day it's published.