The VASP Bill positions Seychelles as a global leader in the regulated virtual asset space
The Bill aims to align Seychelles with FATF standards
The Seychelles National Assembly has approved the Virtual Asset Service Providers (VASP) Bill 2024, marking a significant step towards establishing a regulated environment for virtual assets. This legislation aims to align Seychelles with international standards, particularly those set by the Financial Action Task Force (FATF) while fostering an innovation-friendly financial landscape.
The VASP Bill introduces a robust framework to oversee virtual asset service providers (VASPs), including exchanges, wallet providers, and ICO promoters. It mandates strict licensing requirements, ensuring that only authorized entities can operate within or from Seychelles.
This regulatory measure is designed to combat financial crimes such as money laundering and terrorist financing, reinforcing the integrity of Seychelles’ financial system. Ad
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