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On 10 December 2021, the Mauritius Virtual Asset and Initial Token Offering Services Act 2021 is adopted by the Mauritius National Assembly and subsequently published in the Official Gazette on 16 December 2021. The Act requires the Financial Services Commission (FSC) to regulate and supervise the virtual asset service providers and the issuers of initial token offerings operating in the country. In particular, the Act requires virtual asset service providers to apply for a license, and initial token offerings issuers to register to the FSC. Both the operations are subjected to various obligations, including limits to shares transfers to persons, organization of legal structure and compliance with data protection laws.
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