Regulatory Updates

This notice is hereby issued by the Financial Services Authority (“FSA”) drawing attention to the website https://margex.com/ allegedly operated by Margex Trading Solutions Ltd previously incorporated under the International Business Companies Act. The FSA wishes to advise the public as to the fact that the company does not, nor has it had any authorization to operate under the Virtual Asset Service Providers Act, 2024 and was simply incorporated.

The company has since been struck off and was dissolved as of the 18th December 2024, and is therefore no longer a legal entity registered or incorporated in the Seychelles.

Consumers are reminded to always check whether the Virtual Asset Service Providers (“VASP”) or Virtual Asset products being offered to them are actually licensed/authorized and regulated in the jurisdiction from which they claim to operate. To note, the FSA publishes upon its website all persons authorized or licensed to offer non-bank financial services, including virtual asset services as well as the registration of Initial Coin Offerings or Non-Fungible Tokens.

The Seychelles continues to monitor activities within this domain and the public is encouraged to notify the FSA where they may feel they are engaging with VASPs that are operating without the proper licence or authorization by making use of the form available on the FSA website at the following link, https://fsaseychelles.sc/vasp/report-suspected-unauthorized-or-unlicensed-va-vasp-activity. 

For any further enquiries, please contact the FSA on vass@fsaseychelles.sc. 

Financial Services Authority

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the website https://www.bithash.net/ allegedly operated by Phoenix Trading Solutions LTD, a Seychelles registered company. The FSA wishes to advise the public to the fact that the company does not, nor has it had any authorization to operate under the Virtual Asset Service Providers Act, 2024 and is simply incorporated.

The company has since been struck off and was dissolved as of the 1^st January 2023 and is therefore no longer a legal entity.

Consumers are reminded to always check whether the Virtual Asset Service Providers (“VASP”) or Virtual Asset products being offered to them are actually licensed/authorized and regulated in the jurisdiction from which they claim to operate. To note, the FSA publishes upon its website all persons authorized or licensed to offer non-bank financial services, including virtual asset services as well as the registration of Initial Coin Offerings or Non-Fungible Tokens.

The Seychelles continues to monitor activities within this domain and the public is encouraged to notify the FSA where they may feel they are engaging with VASPs that are operating without the proper license or authorization by making use of the form available on the FSA website at the following link: https://fsaseychelles.sc/vasp/report-suspected-unauthorized-or-unlicensed-va-vasp-activity. 

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the website https://kkex.com/ allegedly operated by KKEX Technology Co., Ltd a Seychelles registered company. The FSA wishes to advise the public as to the fact that the company does not, nor has it had any authorization to operate under the Virtual Asset Service Providers Act, 2024 and is simply incorporated.

The company has since been struck off and was dissolved as of the 18^th December 2024 and is therefore no longer a legal entity.

Consumers are reminded to always check whether the Virtual Asset Service Providers (“VASP”) or Virtual Asset products being offered to them are actually licensed/authorized and regulated in the jurisdiction from which they claim to operate. To note, the FSA publishes upon its website all persons authorized or licensed to offer non-bank financial services, including virtual asset services as well as the registration of Initial Coin Offerings or Non-Fungible Tokens.

The Seychelles continues to monitor activities within this domain and the public is encouraged to notify the FSA where they may feel they are engaging with VASPs that are operating without the proper licence or authorization by making use of the form available on the FSA website at the following link: https://fsaseychelles.sc/vasp/report-suspected-unauthorized-or-unlicensed-va-vasp-activity. 

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website https://admiralmarkets.live. The Authority takes note that the website refers to a company claiming to be authorized and regulated by the Seychelles Financial Services Authority. Please be advised that the entity is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed or regulated by the FSA in any capacity.  

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website."

This notice is issued by the Financial Services Authority ("FSA") pursuant to section 4(1)(m) of the Financial Services Authority Act, 2003.

It has come to the attention of the FSA, through information available in the public domain, that an entity operating under the name Seychelles Company Registration (SCR), is advertising licensable services under the International Corporate Services Act, 2003 (“ICSP Act”) without authorisation (see https://www.seychellescompanyregistration.com/).

The FSA hereby informs the public that Seychelles Company Registration does not hold any license issued by the FSA to undertake such type of activity in or from within Seychelles. The entity has never been granted a license under the ICSP Act, or any other regulatory legislation administered by the FSA.

Accordingly, the FSA strongly urges investors and members of the public to exercise caution when dealing with or considering any services offered by Seychelles Company Registration or its associated website or representative.

FINANCIAL SERVICES AUTHORITY

The Financial Services Authority hereby issues this public statement, in line with section 28 of the Financial Services Authority Act, 2013 to notify the public that the Virtual Asset Service Providers Application submitted by Lazerus Holding Limited trading as “Wallet” for approval under the Virtual Asset Service Providers (VASP) Act, 2024 (“the Act”), on 30th December 2024 has been refused as of 15th April 2025. The company was formally instructed to cease all operations immediately or migrate its services out of the jurisdiction.

The public is hereby advised as to Lazerus Holding Limited having opted to migrate its services offering outside of the Seychelles, and has successfully redomiciled.

For further enquiries as to the transition, members of the public may contact Lazerus Holding Limited directly on legal@lazerus.sc or in the alternative, please contact vass@fsaseychelles.sc.

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the platform, OrangeX operating through the website https://www.orangex.com/ containing references to the Seychelles AML/CFT Act and the Republic of Seychelles within its Privacy Policy. The public is hereby notified that the afore-mentioned platform does not presently have any authorisation for the offering of virtual asset related services in or from the Seychelles, with no application having been submitted as required under the Virtual Asset Service Providers Act, 2024.

Furthermore, the FSA Seychelles urges investors and members of the public to exercise adequate research and evaluation on an entity, service providers, and representative prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details.

This notice is issued by the Financial Services Authority of Seychelles (“the Authority/FSA”) drawing attention to platform known as “Bitrue” accessible through the website https://www.bitrue.com/ which is operated by straLink Innovations Technologies Limitada. 

The public is hereby notified that the afore-mentioned company does not presently have any legal or operational nexus to Seychelles despite claims made on various third party websites. The company does not, nor has it had any authorisation to operate under the Virtual Asset Service Providers Act, 2024 in or from the Seychelles.

The FSA urges investors and members of the public to undertake adequate research and evaluation of an entity, service provider, and representative prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details.

Consumers are reminded to always check whether the Virtual Asset Service Providers (“VASP”) or Virtual Asset products being offered to them are actually licensed/authorized and regulated in the jurisdiction from which they claim to operate. To note, the FSA publishes upon its website all persons authorised or licensed to offer non-bank financial services, including virtual asset services, as well as the registration of Initial Coin Offerings (“ICO”) or Non-Fungible Tokens (“NFT”).

The Seychelles continues to monitor activities within this domain and the public is encouraged to notify the FSA where they may feel they are engaging with VASPs that are operating without the proper licence or authorisation by making use of the form available on the FSA website at the following link, https://fsaseychelles.sc/vasp/report-suspected-unauthorized-or-unlicensed-va-vasp-activity.

For any further enquiries, please contact the FSA on vass@fsaseychelles.sc.

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website https://icpinx.com/About-us/Regulations.html.  The Authority takes note that the website refers to a company named ICPindex claiming to be authorized and regulated by the Seychelles Financial Services Authority under license number SD096. Please be advised that the entity is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed or regulated by the FSA in any capacity.  

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website.

The Financial Services Authority hereby issues this public statement, in line with Section 28 of the Financial Services Authority Act, 2013 to notify the public that the Virtual Asset Service Providers Application submitted by CodeSphere Limited for approval under the Virtual Asset Service Providers (VASP) Act, 2024 (“the VASP Act”), has been rejected as of the 10^th February 2025. The company was formally instructed to cease all operations immediately. However, despite this request, CodeSphere Limited has continued to provide virtual asset services.

As a result, the services offered by CodeSphere Limited are now deemed illegal and in direct violation of the VASP Act, 2024. Any individual or entity conducting business with or through CodeSphere Limited is engaging in unlawful activity and may be subject to legal consequences or will not be afforded protections under the relevant consumer protection laws of the Seychelles.

The public is strongly advised to refrain from engaging in any transactions with CodeSphere Limited to avoid potential legal and financial risks. In doing so, it shall be at your own risk.

The Financial Services Authority is actively undertaking necessary enforcement actions against CodeSphere Limited and any associated individuals or entities involved in the continued illegal operation.

For further inquiries or to report any related activities, please contact vass@fsaseychelles.sc.