Blockchain Technology

The Mauritius Government is supportive of blockchain technology and initially implemented a sandbox licence recognising crypto currency as a digital asset. The recent budget also focuses on the promotion of FinTech services, helping to establish Mauritius’ position as a leading FinTech hub in the African region.

The challenges of making Mauritius a FinTech hub in the region

The prospect of using blockchain technology to store corporate documents of entities, title deeds as well as financial and transactional documents will enhance the financial services sector in Mauritius by ensuring timely access to inherently trustworthy information. The Government’s support financially for this is promising and will include the introduction of a new licence for FinTech Service providers, as well as steps to encourage the self-regulation for FinTech activities in consultation with the United Nations Office on Drugs and Crime, to further comply with the global contribution against money laundering and terrorism. Considerable technological investment and appropriate employee training will also need to be implemented in the coming months.

At present, investment in Digital Assets and Cryptocurrencies is unregulated, which may cause uncertainty within the general public in respect of blockchain technology,. This ought to be addressed by the Government in order to increase awareness and sensitise the general public in connection with the technology and its overall benefits.

Share
Twitter LinkedIn Email Save as PDF
More Publications
18 Sep 2019 |

Offshore listing Vehicles to benefit from the Shanghai - London stock connect

Offshore listing Vehicles to benefit from the Shanghai - London stock connect

Contributors: Huiyan Liew
20 Aug 2019 |

Mauritius Newsletter – August 2019

Welcome to the August issue of the Appleby Mauritius Newsletter. There have been significant changes...

16 Aug 2019 |

Enforcement of Arbitral Awards

Before embarking into the enforcement of arbitral awards, it is important to distinguish between a d...

16 Aug 2019 |

Amalgamation and migration under Mauritius Law

At a time when emerging technologies such as blockchain, cryptocurrency and FinTech dominate the off...

16 Aug 2019 |

Mauritius Case-Law Summary

This is a summary of recent cases likely to influence the practice of global business in Mauritius.

16 Aug 2019 |

Restrictions on giving financial assistance

Financial assistance refers to the assistance given by a company, whether directors or indirectly, f...

Contributors: Farzanah Nawool
16 Aug 2019 |

Mauritius case summary: State Trading Corporation v Betamax Ltd

This case summary brings a new dimension to the approach of the highest court of the land on interna...

Contributors: Yahia Nazroo, Zahrah Juman
16 Aug 2019 |

The Lenders’ Choice: a pledge or a charge

A fundamental question that arises during secured debt financing transactions is which type of secur...

16 Aug 2019 |

Must we separate the roles of Chairman and CEO?

The role of the chairman is critical to good governance and to effective performance but the law doe...

19 Jul 2019 |

Mauritius Regulatory Update

This is the first in a series of of Mauritius Regulatory Alerts in which we bring you an overview of...