Regulatory Alerts2022-08-23
Added · Updated
Virtual Asset and Initial Token Offerings Services (Travel) Rules 2022
The Financial Services Commission of Mauritius issued these rules to establish supplementary obligations for virtual asset service providers, intermediary providers, and financial institutions handling cross-border and domestic wire or batch transfers of virtual assets. The regulations mandate that all such transfers be accompanied by accurate originator and beneficiary information, with batch files containing specific traceable identifiers like account numbers or national identification details. Furthermore, intermediary providers must retain transaction records for at least seven years and implement risk-based policies to execute, reject, or suspend transfers lacking required data.