The Seychelles Financial Services Authority issued a public warning about alleged unauthorised virtual asset services linked to the website coinsbit.io, which it says is allegedly operated by Coinsbit Inc. The FSA stated that Coinsbit Inc does not, and has never had, authorisation to operate under the Virtual Asset Service Providers Act, 2024. Coinsbit Inc was described as having been incorporated as an international business company under the International Business Companies Act, 2016, and the FSA said it has since been struck off and dissolved as of 18 December 2024, meaning it is no longer a legal entity. The notice reminds consumers to verify that virtual asset service providers and products are properly licensed or authorised in the jurisdiction they claim to operate from, and notes that the FSA publishes on its website the persons authorised or licensed to offer non-bank financial services, including virtual asset services, as well as registrations of initial coin offerings and non-fungible tokens; it also encourages the public to report suspected unlicensed activity via its online reporting form.

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