The Seychelles Financial Services Authority warned that Bitbiv, which claimed through its website to be a Seychelles registered company, was not authorized to offer virtual asset exchange services. The company failed to apply for authorization under the Virtual Asset Service Providers Act, 2024, and its website has since become inactive. The authority urged investors and the public to verify entities, service providers and representatives before exchanging money or personal information.
Seychelles Financial Services Authority warns Bitbiv lacked authorization for virtual asset exchange services
The Seychelles Financial Services Authority warned that Bitbiv was not authorized to provide virtual asset exchange services and had failed to submit the required application. Its website has since become inactive.