The Seychelles Financial Services Authority issued a public statement notifying that the virtual asset service provider application submitted by Elysphere Ltd trading as Elysphere has been refused, effective 10 September 2025, and that the firm has been instructed to stop operating immediately or migrate its services out of Seychelles. The statement was issued under section 28 of the Financial Services Authority Act, 2013 and relates to an application for approval under the Virtual Asset Service Providers Act, 2024.
Seychelles Financial Services Authority 2025-11-12
Seychelles Financial Services Authority refuses Elysphere’s virtual asset service provider application and orders it to cease operations or exit the jurisdiction
The Seychelles Financial Services Authority has refused the virtual asset service provider application from Elysphere Ltd, effective 10 September 2025, under the Virtual Asset Service Providers Act, 2024. Elysphere has been instructed to cease operations immediately or relocate services outside Seychelles.