A Great Day To Be Decentralized

Update: VFSC Public Notice

This article relates to the public notice made by the Vanuatu Financial Services Commission that stated Satoshi Island was in violation of their regulations. Our initial response to the public notice can be seen on the follow link. https://satoshiisland.medium.com/public-notice-54befa1aa182

Since The Public Notice:

• The Satoshi Island team tried to make contact with the Commissioner of the VFSC who made the statement and the VFSC but did not receive any response.
• We met with the Minister Of Finance and the Prime Ministers office to discuss Satoshi Island which resulted in positive outcome.
• After exhausting all efforts to make direct contact with the VFSC we filed for an injunction against the VFSC requesting an order that VFSC remove the Notice because we maintain that it is inaccurate & false.
• We will be filing a defamation claim against the VFSC.

The Result:

• As a result of the legal action commenced by Satoshi island, the VFSC consented to remove the statements made about Satoshi Island.

See Below The Supreme Court Order

At the time of this publication, the VFSC have complied with the orders and have removed from their website the statements referring to Satoshi Island.

A note from the Satoshi Island team.
Although decentralization is key part of our project and the majority of our offering will be provided in a decentralized manner, Satoshi Island is a real place and therefore there are instances where we are required to interact with the government to acquire permission for activities within their jurisdictions. The team assures interested parties that all entities and individuals associated with the Satoshi Island project are committed to working within the confines of the laws of the jurisdictions that we operate in. This includes Vanuatu and any other jurisdictions and as such we welcome contact from regulatory bodies, such as the VFSC and alike.