The Seychelles Financial Services Authority has initiated the process to strike 10 International Business Companies off the register for continuing to use names that allude to regulated virtual asset services without being licensed or registered under the Virtual Asset Service Providers Act, 2024. The companies had previously been notified through their International Corporate Service Providers and given time to remove the relevant references from their registered or trade names if they did not intend to seek authorization. That deadline has passed. Breaching the restriction constitutes an offense that may also result in a fine, imprisonment or both, and the authority advised the public to verify virtual asset providers against its lists of licensed and registered entities.
2026-08-27Seychelles Financial Services Authority
Seychelles Financial Services Authority begins striking off 10 companies over unauthorized virtual asset references
The Seychelles Financial Services Authority has begun the process of striking 10 International Business Companies off the register for unauthorized virtual asset references in their names. The companies failed to make required changes after prior notification, and their breaches may also result in fines, imprisonment or both.