Mauritian Watchdog Eyes Licensing for Digital Asset Custodians
The Financial Services Commission (FSC) of Mauritius has published draft regulations focusing on crypto custodian services. The FSC will issue custodian licenses specific to digital assets. The framework covers requirements and governance standards that would apply to the potential license holders. The FSC will also assess risk management and anti-fraud policies in place. Potential applicants would have to create a board of three people, have an office in the country, and maintain a capital of 500,000 Mauritian rupees (about $14,492). The proposal is open to public comments until November 30.