Virtual Asset and Initial Token Offering Services Act 2021
Also known as: Mauritius Virtual Asset and Initial Token Offering Services Act 2021
Overview
Key Details
Jurisdiction
MauritiusRegulator
Financial Services Commission Mauritius
Law Type
Act
Status
In ForceOfficial Law Number
Act 21/2021; Proclamation No. 12 of 2022
Official Title
Virtual Asset and Initial Token Offering Services Act 2021
Effective Date
February 7, 2022
Publication Date
December 16, 2021
Last Verified
August 26, 2026
Topics Covered
Who This Law Applies To
Key Requirements
The VAITOS Act establishes a full licensing system for virtual-asset broker-dealers, wallet providers, custodians, advisory services and marketplaces, plus registration for ITO issuers. Applicants are assessed for local substance, fitness and propriety, governance, capital, risk management and technology. Licensees and issuers must comply with AML/CFT, client-asset protection, disclosure, recordkeeping and supervisory reporting requirements, while the FSC can inspect, direct, sanction, suspend or revoke.
Key Provisions
Five VASP licence classes; ITO issuer registration; fit-and-proper tests; local presence and governance; capital and insurance controls; client-asset safeguarding; AML/CFT; white-paper and offering disclosures; recordkeeping; FSC investigation and sanctions.
Licensing & Registration
Covered VASPs require the appropriate FSC licence; initial token offering issuers must register before offering within the statutory perimeter.
AML / CFT
VASPs and ITO issuers are subject to Mauritius AML/CFT requirements, including CDD, beneficial ownership, transaction monitoring, sanctions screening, suspicious-transaction reporting and records.
Custody & Safeguarding
Wallet and custodian licensees must protect private keys and client assets, maintain segregation and controls, and manage operational and cyber risks.
Disclosure & Marketing
ITO issuers must provide prescribed offering and white-paper information; licensees must communicate risks fairly and avoid misleading promotions.
Market Integrity & Enforcement
The FSC licenses and supervises firms and may investigate, issue directions, impose administrative action, suspend or revoke approvals and refer offences.
Tax Treatment
The Act is regulatory rather than a complete tax code; general Mauritius income, corporate and transaction-tax rules apply based on facts.
Related Laws
Decision No. E/35/2023 — VASP Registration and AML/CFT Instructions
Decision No. E/35/2023 on Virtual Asset Service Provider Registration, Cancellation of Registration and AML/CFT Instructions
Oman's FSA Decision No. E/35/2023 requires registration with the Oman Financial Services Authority (formerly Capital Market Authority) before carrying on covered virtual-asset activities in the Sultanate of Oman. It implements AML/CFT, governance and compliance requirements, and provides registration, cancellation and supervisory procedures. This is a VASP registration/AML regime and should be distinguished from any future full licensing framework.
BCB Resolutions No. 519, 520 and 521 of 2025 — Virtual Asset Regulatory Framework
Resoluções BCB nos. 519, 520 e 521, de 10 de novembro de 2025
Brazil's Central Bank (BCB) Resolutions No. 519, 520 and 521 of 10 November 2025 implement the virtual-asset regulatory framework under the supervision of the Central Bank. Resolution 519 establishes VASP authorisation procedures; Resolution 520 sets activity, governance, controls, security and conduct requirements; Resolution 521 integrates specified virtual-asset operations into Brazil's foreign-exchange and international-capital rules. Commencement is staged during 2026 — verify the effective date for each resolution separately.
Utility Token Offering Act, 2018 (Act No. 4/2018)
Utility Token Offering Act, 2018 (Act No. 4 of 2018)
Anguilla's Utility Token Offering Act 2018 (Act No. 4/2018) is one of the world's earliest purpose-built utility-token offering frameworks. It creates registration requirements for utility-token issuers, sets offering, disclosure and issuer-qualification conditions, and works with AML regulations and later amendments. Verify the most recent consolidation — a 2020 amendment may affect the effective/status fields.
SBS Resolution No. 02648-2024 — AML/CFT Rules for VASPs
Resolución SBS N.° 02648-2024 — Normas para la Gestión de Riesgos de LA/FT aplicable a PSAVs
Peru's SBS Resolution No. 02648-2024 applies AML/CFT risk-management and compliance duties to virtual asset service providers (PSAVs) supervised by UIF-Peru. It requires customer due diligence, recordkeeping and suspicious-transaction reporting. The resolution also contains a travel-rule chapter, but commencement of the travel rule has been deferred to 1 January 2029 through a later amendment — the travel rule is not currently effective.
Financial Market Digitalisation Act (Finanzmarktdigitalisierungsgesetz — FinmadiG)
Gesetz zur Digitalisierung des Finanzmarktes (Finanzmarktdigitalisierungsgesetz — FinmadiG)
Germany's Financial Market Digitalisation Act (FinmadiG) aligns German financial-market law with MiCA and DORA, establishes national supervisory powers and enforcement mechanisms for BaFin, and addresses the transition from existing German crypto-custody regulation. It applies to German financial entities, CASPs and other firms affected by MiCA/DORA national implementation.
Regulation (EU) 2024/1624 — Anti-Money Laundering Regulation (AMLR)
Regulation (EU) 2024/1624 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing
Regulation (EU) 2024/1624 (AMLR) is a directly applicable EU regulation creating AML/CFT obligations for obliged entities, expressly including crypto-asset service providers (CASPs). It works with the AMLA Regulation, AMLD6 and the EU crypto travel rule. Note: the regulation is legally in force, but general application date is 10 July 2027 — it should not be described as currently applicable to CASPs.
