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Mauritius to License Crypto Custodians Sta | BLOG Certified
Mauritius will soon license digital asset custodians as part of its plan to create a fintech hub "in and for" Africa. In an announcement Friday, the island nation's Financial Services Commission (FSC) said that, after publishing draft rules in a consultation paper in November 2018, the framework has now been finalized and will come into effect on March 1. In effect, the framework sets out the rules for a licence that allows the holder to provide custody services for digital assets. The move makes the Mauritius the "first jurisdiction globally to offer a regulated landscape for the custody of digital assets," according to the FSC. Pravind Kumar Jugnauth, prime minister of the Republic of Mauritius stated: While the final framework will be published in full in the upcoming Government Gazette on March 1, the announcement indicates that holders of the digital asset licence will be mandated to comply with the anti-money laundering and counter-terrorism funding rules "in line with