The CryptoVerse Summit 2023, took place today in Mauritius this Wednesday 17th May 2023 at Intercontinental Hotel, Balaclava, Mauritius.

The CryptoVerse Industry gathered together.

Organised by Wakanda 4.0, The CryptoVerse Summit 2023, regroups the professionals of the industry namely Blockchain, Fintech, DeFi, GameFi, NFT, Metaverse, Tokenisation, Crypto, Innovation, technology DEX and many more. The Summit gathered 45 speakers from 17 countries around the world…comprising of experts in Virtual assets, Blockchain & compliance, prominent fintech lawyers, Crypto entrepreneurs, Professional Accountants and Metaverse experts.

The Summit regrouped more than 400 delegates including onsite and offline participants from more than 40 countries worldwide, with a diversified audience of professionals already working in the industry but also those who is passionate and want to discover more about this buzzing industry.

The space was filled up with: International VASPs, Management Companies, Lawyers, Accounting Firms, Accountants, IT Companies, Crypto Community, Crypto Enthusiasts, Accelerators & Incubators, Investors, Family Offices, Influencers, Blockchain Developers, DeFi & NFT Projects, VCs, Regulators, TAX Authority, Entrepreneurs, YouTubers and many more involved in the Blockchain & Crypto Space.

Mauritius being a safe and robust offshore jurisdiction, it is positioned as a Virtual Asset- friendly jurisdiction. The Summit provides visibility to Virtual Asset and Blockchain projects in Mauritius & Africa, including clarity on the legal framework for Virtual Assets and Virtual Assets Service Providers (VASPs) in Mauritius (the VAITOS Act 2021).

 

Messages from some of the Key Institutions.

The Summit Opening was graced by the presence of key institutions such as the Ministry of Financial Services & Good Governance, the Financial Services Commission (FSC), The Economic Development Board (EDB) and The Bitcoin Sponsor, Lex Frontier Law firm & representative of Alliot Global Alliance (AGA).

The Permanent Secretary of the Ministry Financial Services & Good Governance , Mr. Sarwansingh Purmessur, shared, that the Ministry is doing their best to understand and manage the explosive growth and disruptive potential of Fintech while ensuring the Stability, Safety and Soundness of Markets and Investors.

The objective of the Government is well underway in making the jurisdiction a Fintech Hub for the region. During the 2017-2018 Budget Speech, the Prime Minister stated that “Mauritius must harness the benefits of the FinTech revolution the more, so that, there is good potential for making of Mauritius a FinTech hub for Africa”. The Financial Sector is diversifying its offerings and make the 30-year old IFC more modern and attractive.

 

The Financial Services Commission (FSC), Chief Executive Dhanesswurnath Thakoor, shared that the FSC has implemented the VAITOS Act and its accompanying rules to regulate activities in the crypto domain, including the issuance of tokens and coins, to prevent money laundering, financing of terrorism and proliferation risks. The act and rules are in compliance with the FATF Recommendation 15, making FSC one of the first countries in the East and Southern African regions to adopt such legislation.

FSC took extensive enforcement action to ensure the requirements of VAITOS are followed, including issuing 23 letters to entities operating as VASPs, launching 8 special investigations, issuing 9 directions to potential VASPs, issuing 5 Investor Alerts, and referring IP addresses to the Mauritian Police Force.

The Chief Executive guided the audience in his speech, about the types of licensing and its process. Ancillary to the VAITOS Act, the Commission has also issued the AML/CFT Guidance Notes, which set out the main areas of concern when it comes to Virtual Assets. At a time when the global regulatory landscape is uncertain, the regulatory framework provides clarity and consistency.

 

Vinay Guddye, Director of Financial Services from the Economic Development Board (EDB), encourages Digital Assets Companies to set up in Mauritius, where EDB provides all the necessary guidance.

 

The Bitcoin Sponsor, Ashween Gopee Managing Partner of Lex Frontier Law firm & representative of Alliot Global Alliance (AGA), was glad to be for the second time, the Main Sponsor of the CryptoVerse Summit. The crypto practice within the AGA consists of high calibre lawyers having an in-depth knowledge of the crypto market and space within their respective jurisdictions. They had today an AGA panel spanning from Argentina, USA, UK, France, Uganda, Mauritius, Hong Kong.

The motto that he uses as a guiding principle, it’s an old African proverb, “Alone you can go fast but together you can go far”.

This space is a highly dynamic one. He shared we cannot have a one-off legislation. Besides the VAITOS, which deals mainly with VA, VASPs, issuance of VT, we also have frameworks for NFTs, DAO and soon Stablecoins. Very lilkely he look forward to see the day lights of a DAO act.

 

From the Organiser

Benito Elisa, CEO of Wakanda 4.0 shared how Mauritius is positioning itself as a Fintech Hub/ a crypto friendly jurisdiction and wants to attract Virtual Assets Service Providers from around the world. We have a specific & comprehensive legal framework in Mauritius for VASPs and ITOs and invited all VA providers from around the world to consider Mauritius as their preferred jurisdiction to take a crypto license. Mauritius is a well regulated & robust jurisdiction and we are looking for serious players in the industry only, where crypto scammers & fraudsters are not welcome in Mauritius. This he mentioned will not have been made possible without the hard work of the Ministry of Financial Services & Good Governance and the FSC.

Special thanks to sponsors namely, Alliott Global Alliance from the UK, Warwyck Group, Adapt It, Dreams Quest, Anex Management Services, Golar Token, Juridis Management Services, Scentia Consulting, Ashton Financial Partners, Global Primex and Kredence Group.

Special mentions to Gilles Brake, CEO of the Alliott Global Alliance and Ashveen Gopee, Managing Partner of Lex Frontier Law Firm, local representative of Alliott Global Alliance and ACCA Mauritius for being the 2nd consecutive time, the main partner of the event.

Note of thanks to, various International & Local Media Partners and communicationsC!

 

About Wakanda 4.0 (The Organiser):

WAKANDA 4.0 (https://www.wakanda.tech/ ) Email: [email protected] / [email protected] Phone: +230 52590774

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