Port Louis, Mauritius (photobeginner/Shutterstock)
The chief financial watchdog of Mauritius, an island-state off the coast of Madagascar, has created a regulatory regime for a full-fledged security token ecosystem in the country.
On Monday, the Mauritian Financial Services Commission (FSC) a framework specifically for security tokens. Together with a , the regulator said this was the start of a new licensing regime to enable fully regulated security token trading systems in the country.
Essentially, the new regime allows a new security token trading systems to become eligible for an FSC license. So far, it effectively authorizes a business to put a security token up for sale in an offering, an “STO,” as well as operate a trading house in the jurisdiction.
“This was crafted with full collaboration between the industry and the regulator,” said FSC CEO Thakoor Dhanesswurnath. “We already have a growing interest in these specific licenses and are expecting to receive several applications in the upcoming months.”