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. 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.