The second edition of the Cryptoverse Summit was organized by Wakanda 4.0 on 17th May 2023. Over 47 speakers from 17 countries, mostly experts in the field of Blockchain technology, DeFi, Fintech, Metaverse and Virtual Assets Service Providers (VASP) attended this Conference. The Summit regrouped more than 400 delegates including onsite and offsite participants and high-calibre speakers such as Dr. Jane Thomason, Interim Chair of the World of the World Metaverse Council participated in this Summit.
The Chief Executive of the Financial Services Commission and the Permanent Secretary of the Ministry of Financial Services and good Governance were joined by Mr. Vinay Guddye, Director of Financial Services, whereby he delivered a keynote address highlighting the fintech journey of Mauritius, and how Mauritius has managed to come out of the FATF grey list in record times.
He further elaborated on how the regulatory landscape has evolved, particularly with the adoption of the newly introduced “Virtual Assets and Initial Token Offerings Services Act 2021”, which is comprehensive legislation to regulate Virtual Assets, Virtual assets service providers and issuers of ITOs.
It is important to note this new piece of legislation was introduced as a result of Recommendation 15, which requires VASPs to be regulated for AML/CFT purposes. Today, Mauritius is the only jurisdiction in Africa, classified as “Compliant” or “Largely Compliant” on all 40 FATF Recommendations. Mauritius is also sharing its expertise with other African countries.
Last, but not least, the Economic Development Board will host its flagship Africa Partnership Conference on 2-3 October 2023, bringing together representatives of all African Investment Promotion Agencies, private sector project promoters and investors, DFIs, regional and financial institutions & investors across the globe.
View the full EDB speech below.