The Seychelles Financial Services Authority issued a public warning that Satoshi Labs Ltd is offering the “$SATX” token through the website satoshidex.ai without authorisation under the Virtual Asset Service Providers Act, 2024, after failing to submit an application to register the token offering. The authority noted that Satoshi Labs Ltd is incorporated in Seychelles under the International Business Companies Act and has been found not to be in good standing due to unpaid annual fees. It urged investors and the public to conduct adequate research and evaluation of entities, service providers and representatives before carrying out transactions involving money exchanges or the exchange of personal details. The FSA said it will continue monitoring activity in the sector and encouraged the public to report suspected unauthorised or unlicensed virtual asset service provider activity via the reporting form on its website.
Seychelles Financial Services Authority 2025-07-08
Seychelles Financial Services Authority warns that Satoshi Labs Ltd’s $SATX token offering via satoshidex.ai is unauthorised
The Seychelles Financial Services Authority issued a warning against Satoshi Labs Ltd for offering the "$SATX" token without authorization under the Virtual Asset Service Providers Act, 2024. Satoshi Labs, incorporated in Seychelles, is not in good standing due to unpaid fees. The authority advises the public to research entities before transactions and report unauthorized activities.