The regulation of cryptocurrency related activities in Mauritius revolves around a core law (the Virtual Asset and Initial Token Offering Services Act of 2021), the FSC Rules complementing the Act, and a set of guidance notes whose role is to assist company officers with compliance.

The FSC Rules are a topic worth having in mind, as it basically represents a subpart of the licensing criteria that can be changed by the Commission itself, without changing the law. Therefore, a more flexible path.
The Act gives the FSC the right to set the rules for licensing and operation and the possibility to change them without passing by a court or Minister. The rules define:

(a) the taking of fees and levying of charges;
(b) prudential standards in respect of –
(i) disclosure to clients;
(ii) risk management;
(iii) custody of client assets;
(iv) cybersecurity;
(v) financial reporting;
(vi) statutory returns; and
(vii) a virtual asset register for any person who holds a virtual asset;
(c) any other matter falling under the purview of this Act
Note that cryptocurrency companies in Mauritius are also de jure subject to compliance with the following laws (as stated in Schedule 1 of the Act):

Financial Intelligence and Anti-Money Laundering Act
Financial Services Act
United Nations (Financial Prohibitions, Arms Embargo and Travel Ban) Sanctions Act 2019
Registry of Crypto Licensed Companies in Mauritius
The FSC Mauritius holds a public register of its licensees. The register is available online here.

Information disclosed on the public register is composed of:

Full name of the company;
Company address;
License;
Date of licensing;
Status of the company;
Contact person name and email.