The Financial Services Authority (FSA) wishes to advise the public as to the circulation of a post from a Facebook account alleging to be Mr Wavel Ramkalawan, the President of the Republic of Seychelles, in respect to the launching of a ‘National Coin’ on the Solana blockchain.

Persons are advised that this post is a scam and the Government of Seychelles has not issued or caused to be issued a ‘National Coin’.

Consumers are reminded to always check whether the VASP or VA 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

September 04^th, 2024

Members of the Financial Stability Committee (FSC) from the Financial Services Authority (FSA) and the Central Bank of Seychelles (CBS) conducted a press conference on September 2^nd, 2024, with the aim of providing an overview of the FSC's meeting of the 12^th and 20^th of August, 2024.

Following the press conference and concerns raised by some investors the FSA hereby reassures members of the public that the bond default mentioned within the press conference does not relate to any government issued securities or the Cable and Wireless (Seychelles) Limited bond.

The FSA remains committed to appropriately inform and educate the general public of any matters relating to the non-bank financial services business.

Financial Services Authority

The Financial Services Authority hereby gives notice to the general public, pursuant to section 28(2)(c) of the Financial Services Authority Act, 2013, that the general insurance licence held by Falcon Insurance Limited has been revoked pursuant to section 110 (1) of the Insurance Act, 2008, effective February 8^th, 2024.

Therefore, note that effective February 8^th, 2024, Falcon Insurance Limited no longer holds the above-mentioned licence.

Financial Services Authority