05-02-2026 
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The island state of Mauritius has published guidance for a regulated security tokens ecosystem, becoming one of the first countries in the world to establish a fully-fledged regulatory regime for the tokens.
The Mauritian Financial Services Commission (FSC) announced the new regulatory model with a 15-page document setting out how the new licensing structure would allow for fully-regulated trading of security tokens within the country.
Under the new laws, security token trading platforms can exist in Mauritius, and are eligible for a FSC license. Businesses are also able to offer and issue security tokens to the market, known as security token offerings (STOs).
Some 18 months in the planning, the new laws were developed in collaboration with industry players. According to FSC CEO Thakoor Dhanesswurnath, there has already been strong interest from operators and businesses looking to secure the required licenses.
“This was crafted with full collaboration between the industry and the regulator. We already have a growing interest in these specific licenses and are expecting to receive several applications in the upcoming months.”
The CEO also said the FSC expects to release further regulation for security token exchanges over the coming months.
Under the new rules, license holders will be required to adhere to strict standards, including anti-money laundering and anti-terrorism financing laws. Exchanges will be obliged to publish transaction data daily, while subject to the scrutiny of the regulator.
STOs are required to maintain a fiat balance of 35 million Mauritian rupees (~US$880,000) as a term of the license, as well as requiring the services of a third-party custodian for holding both digital currency and fiat balances.
The hope in Mauritius is the new laws will position the island as an attractive base for issuing security tokens, in keeping with its emerging reputation as a hub for digital currency activity in the region.
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