The Seychelles Financial Services Authority issued a public warning that the BiteBTC and Fedlio platforms, accessible via bitebtc.com and fedlio.com and claiming to operate through First Finance LLC and MSI Investments LLC, are conducting unauthorised activity under the Virtual Asset Service Providers Act 2024. The FSA said the two companies are not registered under the International Business Companies Act 2016 and have never been granted authorisation to provide virtual asset exchange services. The notice reminds consumers to check that any Virtual Asset Service Provider (VASP) or virtual asset product is licensed and regulated in the jurisdiction it claims to operate from, noting that the FSA publishes on its website the list of authorised or licensed non-bank financial service providers, including VASPs, as well as registrations of initial coin offerings and non-fungible tokens. It also encouraged the public to report suspected unlicensed virtual asset activity via the reporting form on the FSA website and said it will continue monitoring the sector.
Seychelles Financial Services Authority 2026-02-09
Seychelles Financial Services Authority warns BiteBTC and Fedlio are not authorised to offer virtual asset exchange services
The Seychelles Financial Services Authority issued a warning that BiteBTC and Fedlio are conducting unauthorized activities under the Virtual Asset Service Providers Act 2024, as they are not registered under the International Business Companies Act 2016. The FSA advises consumers to verify the licensing of Virtual Asset Service Providers and report any suspected unlicensed activities.