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

Source page: https://protegra.io/licensing/laws/mu-vaitos-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.

## At a glance

| Official title | The Virtual Asset and Initial Token Offering Services Act 2021 [1] |
| --- | --- |
| English title | The Virtual Asset and Initial Token Offering Services Act 2021 |
| Citation | Act No. 21 of 2021 |
| Jurisdiction | [Mauritius](https://protegra.io/licensing/jurisdictions/mauritius/) |
| Type | act |
| Adopted | 2021-12-16 |
| In force from | 2022-02-07 |
| Status | in force |

## Full text

**Official full text:** [The Virtual Asset and Initial Token Offering Services Act 2021 (PDF, en)](https://www.bom.mu/sites/default/files/virtual-asset-and-initial-token-offering-services-act-2021_0.pdf) [1] · 852 KB · file checked 2026-09-24

Official page: [fscmauritius.org](https://www.fscmauritius.org/media/119928/the-virtual-asset-and-initial-token-offering-services-act.pdf) [2] · [archived copy](https://web.archive.org/web/20260909185601/https://www.bom.mu/sites/default/files/virtual-asset-and-initial-token-offering-services-act-2021_0.pdf)

## 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

- [VASP · MauritiusVirtual Asset Advisory Services (Class I)FSC](https://protegra.io/licensing/licences/vasp/mauritius-class-i/)
- [VASP · MauritiusVirtual Asset Broker-Dealer (Class M)FSC](https://protegra.io/licensing/licences/vasp/mauritius-class-m/)
- [VASP · MauritiusVirtual Asset Wallet Services (Class O)FSC](https://protegra.io/licensing/licences/vasp/mauritius-class-o/)
- [VASP · MauritiusVirtual Asset Custodian (Class R)FSC](https://protegra.io/licensing/licences/vasp/mauritius-class-r/)
- [VASP · MauritiusVirtual Asset Market Place (Class S)FSC](https://protegra.io/licensing/licences/vasp/mauritius-class-s/)

## Regulators that apply it

- [MauritiusFinancial Services Commission (FSC)The FSC is the integrated statutory regulatory authority for non-banking financial services and global business in Mauritius, mandated under](https://protegra.io/licensing/regulators/fsc-mauritius/)

## Sources

1. [The Virtual Asset and Initial Token Offering Services Act 2021](https://www.bom.mu/sites/default/files/virtual-asset-and-initial-token-offering-services-act-2021_0.pdf): retrieved 2026-09-24
2. [fscmauritius.org](https://www.fscmauritius.org/): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.