In Mauritius, a digital asset is a digital representation of value that can be traded digitally and functions as a medium of exchange and/or a unit of account and/or a store of value but does not have the status of legal tender.

Regulation 21 of the Securities Regulations 2008 requires every collective investment scheme to appoint and have, at all times, a custodian whose function is to take the assets of the scheme into his/its custody for safe-keeping and to deal with those assets in accordance with his/its written agreement with the scheme. Now that the Mauritian state has decided that digital assets are a valid asset class, it wants them to follow this procedure also.

Comments must be in by 30 November.