Regulatory Updates

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the website https://bitbiv.com/ claiming to be a company registered in the Seychelles. The public is hereby notified that the afore-mentioned company does not presently have any authorisation for offering virtual asset exchange services, having failed to submit an application as required under the Virtual Asset Service Providers Act, 2024. The website has since been inactive.

Furthermore, the FSA Seychelles urges investors and members of the public to exercise adequate research and evaluation on an entity, service provider, 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 (“FSA”) drawing attention to the platform Fiduciary International Limited, accessible through the website https://www.fintxpert.com/, which claims to be operated by the FIDUCIARY INTERNATIONAL LTD which is a Seychelles registered company authorised by the Seychelles. The public is hereby notified that the afore-mentioned company is not known to the Financial Services Authority in any capacity.

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

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

The Financial Services Authority (“the FSA/ 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 Bitfinity Ltd. trading as BitexBit (“the Company”) for approval under the Virtual Asset Service Providers Act, 2024 (“the VASP Act / the Act”), has been rejected as of the 11^th August 2026.

Bitfinity Ltd. was identified by the Authority as having been operating as a virtual asset service provider in or from Seychelles without the requisite licence or authorisation prior to and as at the enactment of the VASP Act on 1^st September 2024. As a pre-existing virtual asset service provider, the Company had the ability to, pursuant to the transitional provisions under section 42 of the Act, which required existing VASPs operators to submit an application for a licence by 31^st December 2024, in order to continue operations after the expiration of the period allotted for transitional period. Bitfinity Ltd. in failing to submit an application for the requisite licence was consequently not authorised to continue its service offering in or from Seychelles. Subsequently, the company was included in the Authority’s list of entities operating illegally, published on 14^th February 2025. Accordingly, the company was considered to be operating unlawfully as from 1^st January 2025.

In view of the Company’s continued unlawful operation, the Authority has since issued a Cease-and-Desist on the 30^th October 2025, with a targeted public warning that was published on the 4^th November 2025 in relation to the Company’s continued unlawful operations. Following the aforementioned publication, Bitfinity Ltd. submitted an application for a VASP licence to the Authority on 20^th November 2025, after the expiry of the prescribed transitional period. The application was subsequently rejected on the basis that it was incomplete, including the Company’s failure to remit the prescribed application fee.

The public is hereby advised that the services offered by Bitfinity Ltd. prior to and as at the date of this publication are illegal and in direct violation of the VASP Act, 2024. The public is strongly advised to refrain from engaging in any transactions with Bitfinity Ltd. to avoid potential legal and financial risks. Any such engagement shall be done at your own risk.

The Financial Services Authority is actively undertaking necessary enforcement actions against Bitfinity Ltd. 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.

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees, and members of the general public to the company "TFI Consulting SA INC", operating under the trade name ProSignal Trades which is claiming to be licensed 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.

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 hereby issued by the Financial Services Authority (“FSA”) drawing attention to the website www.blockdag.network and the ‘BLOCKDAG’ coin which has been issued by DAG SYSTEMS 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 authorisation 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 18^th October 2025, 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 authorised 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 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.

Financial Services Authority

The Financial Services Authority (“the Authority”) hereby issues this public notice pursuant to its mandate to protect the integrity of the Seychelles financial system and to ensure compliance with the Virtual Asset Service Providers Act, 2024 (“VASP Act”).

This notice is issued further to Circular No. 4 of 2024 published on the 2^nd September 2024 by the Financial Services Authority in respect of the commencement of the VASP Act as from the 1^st September 2024, with emphasis placed on the duty for relevant parties to regularize their service offering and effect such changes as may be necessary to ensure compliance with the VASP Act.

Section 40(1) of the VASP Act prohibits any person, other than a licensee or registrant, from using any name that includes the words or expressions or any combination thereof, which may reasonably be construed as alluding to the provision of services that are licensable under the VASP Act.

Such prohibited words and expressions include, but are not limited to, the following:

This restriction is intended to prevent the public from being misled into believing that an entity is authorized or regulated to provide virtual asset services in or from Seychelles.

Following a comprehensive review of the register of International Business Companies (“IBCs”), the Authority has identified a number of IBCs that remain non-compliant with section 40 of the VASP Act. Such breach constitutes an offence and may give rise to the imposition of a fine, imprisonment, or both, in accordance with the provisions of the VASP Act.

These entities were previously notified through their respective International Corporate Service Providers and have been provided with a reasonable period to take the necessary measures in order to remove any reference of the above words (or any combination thereof) from their names, be it their registered business or trade names if there is no intention to be licensed or registered under the VASP Act.

Given that the deadline to effect the change has now lapsed, the IBC’s listed in Annex A, have been identified as being in breach of Section 40 of the VASP Act, and consequently have committed an offence and may be subject to such further enforcement measures as may be deemed necessary.

As a result of this continued non‑compliance, the Authority has initiated the process to strike off the identified entities from the Register of International Business Companies, in accordance with the applicable provisions of the International Business Companies Act.

The Authority strongly advises members of the public to exercise caution and to verify the regulatory status of any virtual asset service provider by consulting the list of licensed and registered entities published on the Authority’s official website.

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

Annex A – List of Entities in Contravention of Section 40 of the VASP Act

The Financial Services Authority (“FSA/Authority”) hereby gives notice to the general public, pursuant Section 4(1)(m) of the Financial Services Authority Act, 2013 (“FSA Act”), the accreditation of Mr. Peter James Speros as the Representative of XBTFX (SC) Limited has been terminated, effective as of July 9th, 2026.

All members of the general public are advised that this notice is issued solely for informational and public awareness purposes. It does not constitute, and shall not be construed as, an enforcement action, or adverse determination of any nature against any person or entity referred herein.

The Financial Services Authority (“FSA/Authority”) hereby gives notice to the general public, pursuant Section 4(1)(m) of the Financial Services Authority Act, 2013 (“FSA Act”), that the Securities Dealer Licence of Opal Markets Ltd and that of the Securities Dealer Representative Licence of Mr. Diego Alvarez have been surrendered as per the requirements of Section 30(1) of the FSA Act, effective January 22nd, 2026.

This notice is issued by the Financial Services Authority of Seychelles (“the Authority/FSA”) drawing attention to platform known as “WOO X Crypto Exchange” accessible through the website https://woox.io/ which is operated by WOOTECH Limited Corp.

The public is hereby notified that the afore-mentioned company does not presently have, any legal or operational nexus to Seychelles, notwithstanding any representations to the contrary 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.

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

The FSA continues to monitor activities within this domain and encourages the public to report to the FSA of any VASP they are engaged with that they believe to be operating without the requisite licence or authorisation. Reports may be submitted using the online reporting 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 "www.mirrortradelocker.com". The Authority takes note that the website refers to a company named MirrorTradelocker Ltd claiming to regulated and authorized by the Financial Services Authority under license number SD018. 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.