The Financial Services Commission (FSC) of Mauritius has published a draft regulatory framework for custodian services focused on digital assets. The document covers proposed requirements and operational and governance standards that would apply to the potential license holders.

The regulator will gather opinions and public comments until November 30.

The FSC issues two types of custodian licenses under the existing regulatory framework, but they are not appropriate for digital assets, which are recognized as a separate class. As proposed by the regulator, holders of the new licenses would have to comply with the traditional requirements imposed on custodians, with a strong focus on anti-money laundering procedures.

The so-called Custodian Service…

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