The Seychelles Financial Services Authority issued a public warning that the platform DEEPCOIN, accessible through its website and allegedly operated by DC Group Ltd formerly DEEPCOIN Global Limited, is not and has never been authorized to operate under the Virtual Asset Service Providers Act, 2024. The notice addresses claims on the platform and in third-party references that suggest the business is licensed in Seychelles. According to the authority, DEEPCOIN was incorporated on 1 July 2025 in the IBC register, but no application has been received for it to conduct business under the Virtual Asset Service Providers Act, 2024. The authority reminded consumers and investors to verify whether a virtual asset service provider or virtual asset product is actually licensed in the jurisdiction from which it claims to operate, noting that its website lists authorized non-bank financial service providers, including virtual asset service providers, as well as registered Initial Coin Offerings and Non-Fungible Tokens. The authority added that it continues to monitor activity in this area.
Seychelles Financial Services Authority2026-07-05
Seychelles Financial Services Authority warns DEEPCOIN is not authorized under the Virtual Asset Service Providers Act
The Seychelles Financial Services Authority warned that DEEPCOIN is not authorized under the Virtual Asset Service Providers Act, 2024, despite claims on the platform and elsewhere. It said no application has been received for DEEPCOIN to operate under the regime and reminded consumers to verify licensing status against the authority's published register.