I am sure there is good business potential for PDs also. Currently, the counterparties to PDs in the secondary market are predominantly PDs themselves and commercial banks. But, we understand that many urban and other cooperative banks are maintaining deposits with eligible institutions to comply with SLR stipulations merely because they are not easily able to find Government Securities.
The Guidance Note clarifies that cryptocurrencies are not legal tender in Mauritius but have “value” since they are exchangeable for other things having value, thereby showing characteristics akin to physical commodities such as precious metals. I expect that this Guidance Note will clarify a number of queries regarding cryptocurrencies.