Soteria Solutions Limited – issue of direction

Public statement issued under Section 27(1)(a) of the Designated Businesses (Registration and Oversight) Act 2015.

The Isle of Man Financial Services Authority (the “Authority”) has today, Thursday 25 April 2024, issued a written direction to Soteria Solutions Limited (“Soteria”) directing that it is to take the action of suspending all designated business undertaken by the firm.

Soteria, which had been registered with the Authority under the Designated Businesses (Registration and Oversight) Act 2015 (the “Act”) to undertake convertible virtual currency business (commonly known as virtual or crypto-asset business), has shared directors and officers with the King Gaming group of companies.

The Authority is aware of an ongoing criminal investigation and the decision by the Gambling Supervision Commission to suspend the licences of King Gaming and Dalmine Limited.

The Authority has determined that it is in the interest of the public to issue this public statement.

As this matter is subject to a criminal investigation, the Authority is unable to provide any further comment at this time.