Mauritius issues regulatory guidance for STO

On April 10th, the Mauritius Financial Services Commission (FSC) issued regulatory rules applicable to STO (securities-based token issuance). In the guidance issued on Tuesday, FSC stated that securities-type tokens are classified as securities defined in the National Securities Act of 2005, but in digital form. According to the guidance, issuers who raise funds through STO need to obtain FSC approval in advance. However, if the issue is for “mature” or “professional” investors and funds, or if you have a professional investment plan, no prior approval is required.