Micronesia vs Mauritius
Crypto regulation comparison
Micronesia
Mauritius
No Regulation
Legal
Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
Mauritius has developed a regulatory framework for virtual assets through the Financial Services Commission. The Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act) provides licensing for VASPs. Mauritius positions itself as a fintech-friendly jurisdiction in Africa with a flat 15% income tax rate applicable to crypto income.
Tax Type
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Department of Finance and Administration
Regulator
FSC (Financial Services Commission)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Virtual assets regulated under FSC framework
Key Points
- No specific cryptocurrency legislation
- Uses the US dollar as official currency
- Very limited financial infrastructure
- Minimal crypto adoption
- No licensing framework for crypto services
Key Points
- VAITOS Act 2021 provides comprehensive licensing for VASPs
- FSC issues Class M (custodian), Class O (exchange), Class R (advisory) licenses
- Flat 15% income tax rate applies to crypto income
- No separate capital gains tax; gains may be treated as income
- Mauritius is a member of FATF and complies with international AML standards