What specific role can the ECB as a banking supervisor play in reining in digital currencies? It’s important to stress that we are a supervisor and not regulator. But supervisors can also impose certain requirements in terms of risk mitigation and prudent behaviour.
Mauritius had recently undergone a Mutual Evaluation Exercise under the auspices of the ESAAMLG. Some areas warranting remedial action in the AML/CFT regulatory and supervisory framework had been identified. The country has already taken the necessary corrective steps and addressed many of the shortcomings. The legal framework has been enhanced with relevant amendments to the Banking Act and Bank of Mauritius Act.