The Virtual Assets and Initial Token Offerings Act 2022: The Financial Services Commission Confirms Processing Fees and Licensing Criteria
Published: 6 Jun 2022
Type: News
On 02 June 2022, the Mauritian Financial Services Commission (FSC) confirmed the processing fees for Virtual Asset Service Providers and Issuers of Initial Token Offerings through the Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2022 which come into effect as from 07 May 2022 (Processing Fees Regulations).
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The FSC is confident that the Processing Fees Regulations will foster early bird applications for the VASP licences and registration of initial token offerings (please see our article of 11 April 2022).
A summary of the processing fees is set out below and the licensing criteria at the FSC Mauritius website.
| Class I (Virtual Asset Advisor): | Processing Fees USD 3,000 | Fixed Annual Fees USD 5,000 |
| Class M (Virtual Asset Broker-Dealer): | USD 1,000 | USD 2,000 |
| Class O (Virtual Asset Wallet Services): | USD 1,000 | USD 1,900 |
| Class R (Virtual Asset Custodian): | USD 1,500 | USD 2,500 |
| Class S (Virtual Asset Market Place): | USD 3,000 | USD 5,000 |
| Issuers of Initial Token Offerings | USD 2,000 | N/A |
