Regulatory changes we're tracking and practical guides from the team that prepares the applications.
Regulatory updates
PSD3/PSR final texts, FINTRAC's 2026 MSB crackdown in Canada, Mauritius PIS tax relief, and tightened BVI/Cayman/Seychelles substance rules — what payment and offshore founders need to know now, and which changes are in force versus still proposal-stage.
Crypto & MiCA
OKX, Bybit, eToro, KuCoin, HTX, and BitMEX operate from Seychelles. The VASP Act 2024 ended the no-license era on September 1, 2024. In 2025 the FSA started enforcing: live system walk-throughs, genuine substance requirements, and a new Code of Corporate Governance effective January 2026. The honest 2026 picture.
Investment licensing
IC Markets, Admirals, ATFX, Fusion Markets, XM, FXTM all hold FSA Seychelles licenses. Why the license works for offshore forex and CFD brokers targeting non-EU markets, and how the 2024–2025 regulatory reforms changed the picture.
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