• Thu, 27 Jun 2019, 06:37 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Mauritius FSC publishes regulatory guidance on security token offerings

Photo Via Business Mega

Thu, 11 Apr 2019, 03:37 am UTC

The Mauritius Financial Services Commission (FSC) has published regulatory guidance on security token offerings (STOs).

The guidance has been issued in response to the queries from various stakeholders regarding the statutory requirements applicable to STOs. It states:

““Securities tokens” are “securities” as defined in the Securities Act 2005, represented in digital format.”

“When STOs are conducted in or from within Mauritius, the offering of such Securities Tokens shall be subject to the Securities Act 2005 and any Regulations or FSC Rules issued thereunder including the requirement for a prospectus, as may be applicable.”

Importantly, issuers targeting sophisticated or expert investors and funds, or professional and specialized collective investment schemes are not required to obtain prior approval from the FSC.

Furthermore, anyone soliciting others to enter into transactions involving securities tokens is required to hold the appropriate licence under the Securities Act and ensure strict compliance with regulatory requirements including due diligence and disclosure obligations.

“The FSC wishes to highlight that carrying out financial services without a licence is a criminal offence,” it added.

The guidance on STOs is the second in the FSC’s Fintech Series and follows the guidance on “Recognition of Digital Assets as an asset-class for investment by Sophisticated and Expert Investors” issued last year.

The Financial Services (Custodian services (digital asset)) Rules 2019 and the corresponding Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2019 came into effect on 01 March 2019.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $12,569.00 (-0.63%)
  • Ethereum (ETH) $324.43 (-2.29%)
  • XRP (XRP) $0.440400 (-7.26%)
  • Bitcoin Cash (BCH) $467.49 (-4.38%)
  • Litecoin (LTC) $125.29 (-7.45%)
  • Bitcoin (BTC) $12,569.00 (-0.63%)
Jun 27, 2019 (Thursday)
06:25
Former FinCEN, DOJ officer Michael Mosier joins blockchain analytics firm Chainalysis
06:22
Digital assets benefitting from ongoing regulatory clarification; IEO is the new crypto fundraising instrument: CVA and PwC Strategy& Report
06:07
Coinbase Pro now supports Chainlink (LINK) trading
05:13
CoinMarketCap acquires Hashtag Capital to enhance crypto data offering
04:20
Blockchain startup dfuse raises $3.5M, led by Multicoin Capital and Intel Capital
03:41
CZ: 'the future is here' as Binance transfers $1.2B in BNB in 1 second for $0.01
03:37
Square rolls out bitcoin deposits for all Cash App users
Jun 26, 2019 (Wednesday)
12:45
Opera launches blockchain-ready browser for iOS
12:16
Crypto Technicals: ETH/USD hits new 10-month highs at 340, eyes 396 (23.6% Fib)
11:14
Northern Trust hands over private equity blockchain technology platform to Broadridge
10:06
Amun launches new ETP using Bitwise 10 Select Large Cap Crypto Index
09:08
Startup Lolli partners with Hotels.com to reward travelers with bitcoin
09:04
SWIFT to give blockchain-based firms access to its GPI payments
08:52
Germany's CDU and CSU Union wants to incorporate blockchain in public services
07:46
Crypto firm LedgerX obtains CFTC approval for physically-settled derivatives contracts
07:45
Crypto Technicals: XMR/USD fails to track gains in Bitcoin, slips below 100, bias turning bearish
06:54
EY to utilize Guardtime’s blockchain, Sensyne Health’s AI for outcome-based health payments
06:35
Q2 Solutions, HSBlox, and R3 successfully conduct proof-of-concept blockchain application in clinical research
06:20
TP ICAP enters crypto business to trade bitcoin futures
06:04
Israeli brothers arrested for 2016 Bitfinex hack, global retrieval effort underway
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft