Public Notice - Warning about Unlicensed Virtual Assets Service Providers

The Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”) would like to warn members of the public to be aware of unscrupulous entities and individuals who continue to aggressively market themselves primarily through social media and WhatsApp platforms, soliciting their business and deceitfully claiming that they have been issued a license by the Regulatory Authority to offer virtual asset services.

The Regulatory Authority has to date not licenced any Virtual Assets Service Provider or Initial Token Issuers. As a result, the public is warned that all entities and/or individuals offering these services are operating illegally and should be reported to the Regulatory Authority.

Members of the public are reminded and implored to always confirm the licensing status of any service provider regulated by the Regulatory Authority on its website www.nbfira.org.bw or by calling on 3686100.

The Regulatory Authority requests all unlicensed entities to cease and desist from engaging potential customers and from carrying out any marketing activities as this constitutes a criminal offense and due action will be taken against perpetrators.

For further information, please contact the Regulatory Authority on 3102595 or email on info@nbfira.org.bw.