The Seychelles Financial Services Authority issued a public warning that the website ff.io, allegedly operated by Ftrader Ltd, is not and has never been authorised to provide virtual asset services under the Virtual Asset Service Providers Act, 2024, despite being incorporated in Seychelles. Ftrader Ltd is registered as an International Business Company but holds no authorisation for the offering of virtual asset-related services. The FSA instructed the company to cease operations immediately or migrate its services out of the jurisdiction, and reports that the firm has opted to move its service offering outside Seychelles and has successfully redomiciled to the Republic of the Marshall. Consumers are reminded to check whether a virtual asset service provider or product is licensed and regulated in the jurisdiction from which it claims to operate, noting that the FSA publishes on its website the persons authorised to offer non-bank financial services, including virtual asset services, as well as registrations of Initial Coin Offerings and Non-Fungible Tokens. The FSA will continue monitoring the sector and encouraged the public to report suspected unauthorised or unlicensed virtual asset activity via the reporting form on its website.

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