Seychelles | 06.11.24
Seychelles launches licensing for crypto services: new requirements
As of September 1, 2024, the Seychelles has implemented the Virtual Asset Service Providers Act, 2024 (VASP Act), regulating the activities of companies providing virtual asset services. This legislation represents a significant shift in Seychelles' approach to regulating the crypto industry, requiring companies in this space to obtain licenses for lawful operation. The Act establishes rules, criteria, and requirements for all license holders, as well as sanctions for violations.