The Seychelles Financial Services Authority has warned that DAG Systems Ltd., the issuer of the BLOCKDAG coin promoted through blockdag.network, does not and has never held authorization under the Virtual Asset Service Providers Act, 2024. The company’s incorporation under the International Business Companies Act did not authorize it to provide virtual asset services. The notice also gives Oct. 18, 2026, as the date on which DAG Systems was struck off and dissolved. Consumers should verify virtual asset service providers and products against the authority’s published lists of licensed or authorized firms and registered initial coin offerings and non-fungible tokens.
2026-09-07Seychelles Financial Services Authority
Seychelles Financial Services Authority warns BLOCKDAG and DAG Systems lack virtual asset authorization
The Seychelles Financial Services Authority has warned that DAG Systems Ltd. and its BLOCKDAG coin have never been authorized under the Virtual Asset Service Providers Act, 2024. The company’s incorporation did not permit it to provide virtual asset services, and the notice identifies Oct. 18, 2026, as its dissolution date.