Mauritius gathers feedback on inclusion in Metaverse


An October 2023 consultation paper stated that the Financial Services Commission (FSC) in the East African country of Mauritius began gathering feedback on the inclusion of the Metaverse in the financial services industry.

In November, the FSC will gather public input on the strategic development and impact of what the country describes as a virtual realm with endless possibilities.

Solve the future direction

Some questions raised in public consultation This includes asking about the expected short- to medium-term impact of Metaverse on the financial services industry, potential business opportunities for financial institutions, specific services that users want in Metaverse that are not provided in the physical world, strategies to strengthen cooperation between financial institutions and other departments, and Believes there are barriers to widespread adoption of Metaverse financial services.

Following the public consultation, the Mauritius FSC stated its intention to consider establishing a multidisciplinary working group to address future policy and regulatory directions.

Expand emerging economies

It turns out that Mauritius is no stranger to the digital economy. Back in June 2020, the FSC released guidelines for regulated security token products in the country, which many in the community considered a landmark decision.

at the same time, bank of mauritius A central bank digital currency pilot project is expected to begin in the coming months, with work said to be entering an advanced stage in September.

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