The Seychelles Financial Services Authority issued a public statement rejecting the virtual asset service provider (VASP) approval application submitted by MP Technology Services Ltd, trading as MoonPay, under the Virtual Asset Service Providers Act 2024, and instructed the company to cease operations immediately or migrate its services out of the jurisdiction. The application was submitted on 20 December 2024 and was rejected as of 16 October 2025. The statement, issued under section 28 of the Financial Services Authority Act 2013, notes that the company opted to migrate its service offering outside Seychelles and has since successfully domiciled.
Seychelles Financial Services Authority 2025-11-25
Seychelles Financial Services Authority rejects MoonPay VASP application and confirms the firm has migrated its services out of Seychelles
The Seychelles Financial Services Authority rejected the virtual asset service provider application from MP Technology Services Ltd, trading as MoonPay, under the Virtual Asset Service Providers Act 2024. The company was instructed to cease operations immediately or relocate its services outside the jurisdiction, which it has since done successfully.