The Seychelles Financial Services Authority has issued a public warning about unauthorised activity under the Virtual Asset Service Providers Act, 2024, drawing attention to the website www.blockdag.network and the ‘BLOCKDAG’ coin issued by DAG SYSTEMS LTD., a company registered in Seychelles. The authority stated that the company does not currently have authorisation for the issuance because it failed to submit an application to register the coin offering. The notice also urges investors and the public to conduct adequate research and evaluation of entities, service providers and representatives before doing business or undertaking transactions involving money exchanges or sharing personal details.
Seychelles Financial Services Authority 2025-03-19
Seychelles Financial Services Authority warns BlockDAG coin issuer lacks authorisation under the Virtual Asset Service Providers Act
The Seychelles Financial Services Authority warns about unauthorised activity under the Virtual Asset Service Providers Act, 2024, highlighting www.blockdag.network and the 'BLOCKDAG' coin by DAG SYSTEMS LTD. The company lacks authorisation due to not submitting a registration application. The authority advises investors and the public to research entities and service providers before transactions.