The Seychelles Financial Services Authority (FSA) issued a public warning drawing attention to mandala.exchange, allegedly operated by Mandala Exchange, Ltd, stating that the company does not and has never had authorisation to operate under the Virtual Asset Service Providers Act, 2024. The FSA noted that Mandala Exchange, Ltd is incorporated and registered as an International Business Company but does not hold authorisation to offer virtual asset-related services in Seychelles. It reminded consumers to check whether virtual asset service providers and related products are licensed or regulated in the jurisdiction from which they claim to operate, and pointed to the FSA’s published lists of authorised non-bank financial service providers (including virtual asset services) and registrations of initial coin offerings and non-fungible tokens; the public was also encouraged to report suspected unlicensed VASP activity via the FSA’s website.

Original source View in tracker