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ARTICLE · 02 AUGUST 2024

The Seychelles Financial Services Authority Introduces Draft Regulations Under The Virtual Asset Service Providers

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The "Capital and other Financial Requirements" Regulations (the CFR Regulations), detail the financial and capital prerequisites for VASPs to ensure the sector's stability and integrity.

SeychellesFinance and Banking
Malcolm Moller
Malcolm Moller
Juliette Ally
Juliette Ally
Jyotika Kaushik
Jyotika Kaushik
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The Virtual Asset Service Providers Bill, 2024 (the VASP Bill), sets a comprehensive legal framework regulating virtual asset service providers (VASPs) in Seychelles and awaits implementation. The Financial Services Authority (the Authority) has now produced a set of draft regulations, currently under public consultation, to supplement the legal requirements under the VASP Bill. A summary introducing each set of regulations are given as below.

The Virtual Asset Service Providers (Capital and other Financial Requirements) Regulations

The "Capital and other Financial Requirements" Regulations (the CFR Regulations), detail the financial and capital prerequisites for VASPs to ensure the sector's stability and integrity.

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