Law · Mauritius

VAITOS Act: The Virtual Asset and Initial Token Offering Services Act 2021

The VAITOS Act 2021 (Act No. 21 of 2021), in force since 7 February 2022, is Mauritius's virtual-asset law. It empowers the FSC to license virtual asset service providers under five classes (M, O, R, I, S) and to register initial-token-offering issuers.

Last verified 2026-09-24Markdown · Data (CC BY 4.0)
The Virtual Asset and Initial Token Offering Services Act 2021: lawVAITOS§

At a glance

Official titleThe Virtual Asset and Initial Token Offering Services Act 20211
English titleThe Virtual Asset and Initial Token Offering Services Act 2021
CitationAct No. 21 of 2021
JurisdictionMauritius
Typeact
Adopted2021-12-16
In force from2022-02-07
Statusin force

Full text

Official full text: The Virtual Asset and Initial Token Offering Services Act 2021 (PDF, en)1 · 852 KB · file checked 2026-09-24

Official page: fscmauritius.org2 · archived copy

Summary

The VAITOS Act empowers the Financial Services Commission (FSC) Mauritius to license and supervise virtual asset service providers (VASPs) and to register issuers of initial token offerings (ITOs). No person may carry on VASP business or issue tokens in or from Mauritius without a licence/registration (s.7, s.23). It creates five VASP licence classes (Second Schedule): M (Broker-Dealer), O (Wallet Services), R (Custodian), I (Advisory Services) and S (Marketplace). It sets fit-and-proper, minimum-capital (via FSC Rules), client-asset segregation and audited-accounts duties, requires FSC approval before a controller acquires more than 20% or otherwise changes control, and empowers inspection, investigation, suspension/revocation, administrative sanctions and criminal offences (fines up to 5 million rupees and up to 10 years' imprisonment) for breaches. Existing operators had 3 months from commencement to apply for a licence/registration.

Summary written by the Atlas from the official text; the law itself prevails.

Main articles

  • s.7: No person may carry on VASP business in or from Mauritius without an FSC licence.
  • s.16: FSC prior approval required for share transfers giving >20% holding or a change in control.
  • s.20: VASPs must maintain minimum stated unimpaired capital as prescribed in FSC Rules.
  • s.23: No person may issue initial token offerings in or from Mauritius without FSC registration.
  • s.49: Administrative sanctions: warnings, censure, disqualification, penalty, licence revocation.
  • s.50: Criminal offences: fines up to 5 million rupees and imprisonment up to 10 years.
  • s.54: Existing VASP/ITO operators had 3 months from commencement to apply for licensing.
  • Second Schedule: Defines VASP licence Classes M, O, R, I and S by business activity.

Licences it governs

Regulators that apply it

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. The Virtual Asset and Initial Token Offering Services Act 2021 · retrieved 2026-09-24
  2. fscmauritius.org · retrieved 2026-09-24

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