The Seychelles Financial Services Authority issued a public warning on allegedly unauthorised virtual asset activity linked to the website margex.com, which it says is operated by Margex Trading Solutions Ltd. The FSA stated that the company does not, and has never, had authorisation to operate under the Virtual Asset Service Providers Act 2024 and was only incorporated. The notice also states that the company has been struck off and dissolved with effect from 18 December 2024 and is therefore no longer a legal entity registered or incorporated in Seychelles. The FSA reminded consumers to verify that any virtual asset service provider or virtual asset products are properly licensed and regulated in the jurisdiction they claim to operate from, noting that it publishes on its website the list of authorised or licensed non-bank financial services providers, including virtual asset service providers, and registrations of initial coin offerings and non-fungible tokens.

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