{"id":1280,"date":"2025-05-09T09:12:20","date_gmt":"2025-05-09T09:12:20","guid":{"rendered":"https:\/\/jupiter.mu\/sub\/?page_id=1280"},"modified":"2025-09-12T10:18:36","modified_gmt":"2025-09-12T10:18:36","slug":"virtual-asset-service-providers-vasp","status":"publish","type":"page","link":"https:\/\/jupiter.mu\/sub\/virtual-asset-service-providers-vasp\/","title":{"rendered":"Virtual Asset Service Providers – VASP"},"content":{"rendered":"\t\t
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Virtual Asset Service Providers \u2013 VASP<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Introduction<\/strong><\/p>

Mauritius, a progressive island nation in the Indian Ocean, has strategically positioned itself as a modern financial centre. With the increasing influence of blockchain technology and digital currencies, the country has taken a proactive approach by regulating virtual assets (VAs) and virtual asset service providers (VASPs). This regulatory initiative aims to protect users, ensure financial stability, and promote innovation.<\/p>

Advantages of Holding a VASP Licence<\/strong><\/p>

  • Stronger Market Reputation:<\/strong>
    A VASP licence lends credibility to service providers by confirming they operate within a well-regulated and secure legal environment.<\/li>
  • Boosted Investor Trust:<\/strong>
    Regulatory oversight reassures investors and encourages greater participation in the virtual asset market.<\/li>
  • Support for Innovation:<\/strong>
    Clear regulatory guidance creates a supportive environment for developing new financial technologies and services.<\/li><\/ul>

    Legal and Regulatory Framework<\/strong><\/p>

    The licensing and oversight of VASPs in Mauritius are overseen by the Financial Services Commission (FSC)<\/strong> under:<\/p>

    • The Financial Services Act<\/strong><\/li>
    • The Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act)<\/strong><\/li><\/ul>

      This framework ensures that the virtual asset industry operates with transparency, security, and integrity.<\/p>

      Objectives of the VAITOS Act<\/strong><\/p>

      • Promote a safe and reliable virtual asset market<\/li>
      • Combat money laundering and terrorism financing<\/li>
      • Protect the interests of consumers and investors<\/li>
      • Strengthen Mauritius\u2019s image as a reputable financial jurisdiction<\/li><\/ul>

        Coverage of the VAITOS Act<\/strong><\/p>

        The VAITOS Act applies to:<\/p>

        • Virtual Asset Services:<\/strong> Includes currency and asset exchanges, transfers, storage, and related financial services.<\/li>
        • Initial Token Offerings (ITOs):<\/strong> Regulates public offerings of new digital tokens.<\/li><\/ul>

          Types of VASP Licences in Mauritius<\/strong><\/p>

          1. Class M \u2013 Broker\/Dealer<\/strong>
            • Role:<\/strong> Acts as a middleman in virtual asset trades.<\/li>
            • Services:<\/strong> Facilitates trading, liquidity provision, order execution, and potentially market analysis.<\/li><\/ul><\/li>
            • Class O \u2013 Wallet Services<\/strong>
              • Role:<\/strong> Offers digital wallet services.<\/li>
              • Services:<\/strong> Manages digital wallets, private keys, and asset transfers between wallets or platforms.<\/li><\/ul><\/li>
              • Class R \u2013 Custodian<\/strong>
                • Role:<\/strong> Ensures secure storage of virtual assets.<\/li>
                • Services:<\/strong> Implements safety measures, manages custody and administrative control over clients’ digital assets.<\/li><\/ul><\/li>
                • Class I \u2013 Advisory Services<\/strong>
                  • Role:<\/strong> Provides expert advice on virtual assets.<\/li>
                  • Services:<\/strong> Assists with strategy, regulatory compliance, investment guidance, and ongoing project support.<\/li><\/ul><\/li>
                  • Class S \u2013 Market Place<\/strong>
                    • Role:<\/strong> Operates virtual asset trading platforms.<\/li><\/ul><\/li><\/ol>

                      Services:<\/strong> Enables exchanges between virtual assets and fiat currencies or other digital assets.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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                      Get in touch with our experts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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                      Looking to register a new company?
                      Have a FinTech idea that requires a license?
                      <\/span>Not sure about the legal implications of your project?
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                      <\/span>answers and a one-stop-shop solution to all your legal corporate needs.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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