21/10/25
Mauritius is doubling down on its 2025 agenda for digital currency reform - particularly its retail CBDC project - while at the same time reinforcing its virtual asset regime under the VAITOS Act. The developments have urgent implications for fintech, payments providers and virtual asset operators.
🟢 Key facts & regulatory regime
The Bank of Mauritius (BoM) launched a public consultation on the “Digital Rupee” (retail CBDC) in August 2025, signalling that the central bank is moving from experimentation toward design and policy decision. The BoM is also an observer in the mBridge initiative (multi-CBDC project) to explore wholesale cross-border use cases. Meanwhile, Mauritius’ virtual assets and token offerings remain regulated under the Virtual Asset and Initial Token Offering Services Act, 2021 (VAITOS Act), under the supervision of the Financial Services Commission (FSC). The FSC has issued complementary rules on capital and financial requirements, cybersecurity, custody, disclosure, risk management and client protection.
📊 Analysis & comparative perspective
Mauritius is adopting a twin-track approach: advancing a retail CBDC internally, while maintaining a regulated private sector regime for virtual assets. That contrasts with jurisdictions that ban private crypto outright; it shares more with nations seeking coexistence between CBDC and private digital finance, albeit with clear lines. However, regulatory tension remains. Tokens with securities-like features may trigger crossover into securities law (Securities Act, 2005), a complexity that mirrors legal challenges in many global markets. The strength of the VAITOS licensing regime gives Mauritius a credible foundation.
🌐 Practical impact & sector effects
A payments firm planning to enter the Mauritian market must track both CBDC design and VAITOS licensing. Today, service providers must apply for appropriate VASP classes, maintain capital thresholds (e.g. broker-dealer license, custody license), maintain cybersecurity safeguards, and meet client disclosure and AML/CFT standards under the FSC’s guidance. For example, a stablecoin issuer must assess whether its instrument qualifies as a virtual asset or is pulled into the securities regime.
✅ Conclusion
Mauritius is now entering a decisive phase in its digital currency trajectory, transitioning from pilot toward consultation for its retail CBDC, while reinforcing the VAITOS framework for private virtual assets. At NUR Legal, we specialise in fintech, digital assets and regulatory strategy. Contact us to evaluate your Mauritius crypto or CBDC project, structure operations, or manage licensing and compliance risk. Visit us at NUR-Legal.com or contact us directly at info@nur-legal.com
Kätrin Särap