VASPCheck

VASP Compliance Summary — CoinW

CoinW Ltd · Exchange · Seychelles

Exported 2026-08-25

Data reviewed 2026-07-31

Overview

Compliance snapshot

Overall regulatory statusNot licensed

EU MiCA statusNo EU authorization

No EU, UK or US exchange authorization disclosed
Seychelles operator with regional marketing entities
Trustpilot 2.8/5 · 660 reviews
Volume concentrated in incentivised derivatives campaigns

High concern

Offshore venue with thin licensing, heavy reliance on incentive-driven volume and no authorization in any tier-one jurisdiction.

Authorizations

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
Seychelles	Financial Services Authority Seychelles FSCA · https://fsaseychelles.sc/regulated-entities	VASP registration	Registered	VASP-SC-2022-097	2022-09-06
United States	Financial Crimes Enforcement Network FinCEN · https://www.fincen.gov/msb-registrant-search	MSB registration	Registered	31000-2211-3352	2022-11-22

Reputation

Reputation scores

Trustpilot-style score2.8 / 5

Reviews660

App Store3.9

Google Play3.5

12-month trenddown

Press sentiment (12m)+2 / ~3 / −5

Media

Recent press

Date	Source	Headline & summary	Sentiment
2026-05-29	CoinDesk	CoinW extends trading competitions Incentive campaigns continued to drive reported turnover.	Neutral
2026-02-10	Reuters	Analysts question incentive-led volumes Reported turnover fell sharply after campaigns ended.	Negative
2025-11-07	Bloomberg	Exchange adds withdrawal controls Whitelisting and delay windows were introduced.	Positive
2025-08-13	Financial Times	Offshore venues face marketing curbs Regulators restated restrictions on unlicensed promotion.	Negative
2025-04-03	CoinDesk	CoinW opens regional support hubs Customer service coverage was expanded.	Neutral

Risk events

Incidents & enforcement

Date	Type	Amount	Description
2025-08-13	Enforcement	—	Public warning by a European supervisor over unauthorized promotion to retail clients.
2024-04-19	Outage	—	Withdrawal queue backlog of roughly nine hours during peak volatility.

Profile

Key facts

Founded2017

Websitecoinw.com

Fiat currenciesUSD

Proof of reservesNo

Custody modelOmnibus wallets with internal key management

Legal entitiesCoinW Ltd (SC)

CoinW

Not licensedNo EU authorizationESMA register

CoinW Ltd

Exchange🇸🇨 Seychelles Founded 2017coinw.com

Visit website

Last reviewed

2026-07-31

Compliance snapshot

No EU, UK or US exchange authorization disclosed
Seychelles operator with regional marketing entities
Trustpilot 2.8/5 · 660 reviews
Volume concentrated in incentivised derivatives campaigns

Overall concern

High concern

Offshore venue with thin licensing, heavy reliance on incentive-driven volume and no authorization in any tier-one jurisdiction.

Regulatory

Licenses & registrations

Jurisdiction	Regulator	Authorization	Status	Reference	Granted
🇸🇨 Seychelles	Financial Services Authority SeychellesFSCA	VASP registration	Registered	VASP-SC-2022-097	2022-09-06
🇺🇸 United States	Financial Crimes Enforcement NetworkFinCEN	MSB registration	Registered	31000-2211-3352	2022-11-22

🇸🇨 Seychelles
Registered
VASP registration
Financial Services Authority SeychellesFSCA
VASP-SC-2022-0972022-09-06
🇺🇸 United States
Registered
MSB registration
Financial Crimes Enforcement NetworkFinCEN
31000-2211-33522022-11-22

User signals

Reputation

Trustpilot-style score

2.8/ 5

2.8

660 reviews

Declining (12m)

App ratings

App Store: 3.9
Google Play: 3.5

Press sentiment (12m)

Positive2

Neutral3

Negative5

Media

Recent press

2026-05-29
CoinW extends trading competitionsNeutral
CoinDesk — Incentive campaigns continued to drive reported turnover.
2026-02-10
Analysts question incentive-led volumesNegative
Reuters — Reported turnover fell sharply after campaigns ended.
2025-11-07
Exchange adds withdrawal controlsPositive
Bloomberg — Whitelisting and delay windows were introduced.
2025-08-13
Offshore venues face marketing curbsNegative
Financial Times — Regulators restated restrictions on unlicensed promotion.
2025-04-03
CoinW opens regional support hubsNeutral
CoinDesk — Customer service coverage was expanded.

History

Incidents & enforcement

2025-08-13Enforcement
Public warning by a European supervisor over unauthorized promotion to retail clients.
2024-04-19Outage
Withdrawal queue backlog of roughly nine hours during peak volatility.