The Seychelles Financial Services Authority issued a public statement that it rejected the Virtual Asset Service Providers application submitted by Peken Global Limited trading as Ku Coin for approval under the Virtual Asset Service Providers Act 2024, with the rejection effective 4 June 2025. The firm was instructed to cease all operations immediately or migrate its services out of the jurisdiction. The Authority advised that Peken Global opted to migrate its service offering outside Seychelles and has successfully redomiciled. The statement was issued under section 28 of the Financial Services Authority Act 2013.
Seychelles Financial Services Authority 2025-09-18
Seychelles Financial Services Authority rejects Peken Global’s Ku Coin VASP application and confirms its redomiciliation outside Seychelles
The Seychelles Financial Services Authority rejected Peken Global Limited's application under the Virtual Asset Service Providers Act 2024, effective 4 June 2025, and instructed the firm to cease operations or relocate. Peken Global has since migrated its services outside Seychelles. The statement was issued under section 28 of the Financial Services Authority Act 2013.