Regulatory Status Statement
An honest statement of what Paysell is and is not: a custodial crypto-asset payment service, not a bank, with licensing status stated openly.
- Updated
- 6 Sep 2026
On this page
Version 1.0 · Effective [[Effective date]] · Last updated [[Effective date]]
In short: Paysell is a custodial crypto-asset payment service operated by [[Company legal name]], a company registered in [[Jurisdiction]]. Its licensing status is [[Licensing status]]. Paysell is not a bank, does not take deposits, does not issue e-money, and balances held in the cabinet are not protected by any deposit guarantee or investor compensation scheme. Merchants must assess their own regulatory obligations; Paysell's status does not answer them.
1. Why this statement exists#
1.1 Crypto-asset payment services sit inside a regulatory landscape that is unsettled, differs from country to country and is changing quickly. Merchants, banks, auditors and counterparties reasonably want to know what Paysell is and what it is not.
1.2 This statement sets out Paysell's position honestly. It deliberately avoids the vague assurances common in this industry. It does not claim any authorization, registration, license, membership or protection that Paysell does not hold.
1.3 This statement is not legal advice, and no merchant should treat it as a substitute for its own.
2. Who operates the service#
| Item | Detail |
|---|---|
| Legal name | [[Company legal name]] |
| Registration number | [[Registration number]] |
| Legal form | [[Legal form — e.g. private limited company]] |
| Country of registration | [[Jurisdiction]] |
| Registered address | [[Registered address]] |
| Principal place of business | [[Principal place of business]] |
| Trading name | Paysell |
| Website | https://paysell.me |
| Tax / VAT number | [[Tax or VAT number, if applicable]] |
3. What the service actually is#
3.1 Paysell receives crypto-asset payments from a merchant's buyers into wallets controlled by Paysell, records the amount on the merchant's balance in the merchant cabinet after deducting its fee, and transfers funds to a wallet address nominated by the merchant when the merchant requests a withdrawal and a Paysell operator approves it.
3.2 The service is therefore custodial. Between the moment a buyer's payment is credited and the moment a withdrawal is sent, Paysell holds the crypto-assets and controls the private keys. The merchant holds a claim against Paysell recorded in Paysell's ledger, not on-chain control of the assets.
3.3 The service supports only The Open Network, and only Toncoin (TON) and USDT issued as a jetton on TON. Paysell does not convert between assets and does not touch fiat currency at any point.
3.4 Paysell is not a party to the sale between the merchant and the buyer, does not act as escrow, does not guarantee the merchant's obligations to buyers, and does not adjudicate disputes between them.
4. How the service may be classified#
4.1 Depending on the jurisdiction, a service of this kind may be characterized as one or more of the following:
| Concept | Where it typically appears | Comment |
|---|---|---|
| Virtual Asset Service Provider (VASP) | FATF standards and national laws implementing them | Custody of virtual assets on behalf of others, and transfer of virtual assets, are core VASP activities |
| Crypto-Asset Service Provider (CASP) | European Union, under the Markets in Crypto-Assets Regulation | Custody and administration of crypto-assets on behalf of clients, and transfer services, are regulated CASP services requiring authorization |
| Money Services Business (MSB) | United States, federal level | Registration with FinCEN and, in many states, a money transmitter license, may be required |
| Cryptoasset business registration | United Kingdom | Registration with the Financial Conduct Authority for anti-money-laundering purposes |
| Payment service / e-money | Various | Generally applies to fiat funds rather than crypto-assets, but the boundary is not uniform |
| Unregulated | Some jurisdictions | Some countries do not yet regulate this activity at all, and some prohibit it |
4.2 Paysell's own classification is [[Licensing status]]. The owner must complete this field precisely. Acceptable formulations include: "not currently licensed or registered in any jurisdiction"; "registered as [[Registration type]] with [[Supervisory authority]] under number [[Authorization number]]"; "an application for [[Authorization sought]] is pending with [[Supervisory authority]]". It must never be left vague and must never overstate the position.
4.3 Where Paysell is not authorized in a jurisdiction, it does not offer the Services there. See Restricted Jurisdictions.
4.4 If Paysell obtains, is refused, has suspended or surrenders an authorization, this statement will be updated and merchants will be notified.
5. What Paysell is not#
Paysell is not:
- a bank or a credit institution, and it does not accept deposits;
- an electronic money institution, and balances are not e-money;
- an investment firm, broker, dealer, exchange or trading venue;
- a fund, an asset manager or a custodian of securities;
- an insurer;
- a money-changing or fiat payment service;
- a lender, and it does not offer credit, margin or leverage.
Paysell does not lend out, invest, stake, rehypothecate or otherwise use merchant balances for its own account.
6. No deposit protection#
6.1 Balances in the merchant cabinet are not covered by any deposit guarantee scheme, investor compensation scheme, financial services compensation scheme or equivalent, in any jurisdiction.
6.2 If Paysell became insolvent, merchants would be creditors of [[Company legal name]] and the treatment of their balances would depend on the insolvency law of [[Jurisdiction]] and on whether assets could be identified as belonging to merchants. There is no guarantee that a balance would be recovered in full or at all.
6.3 Balances earn no interest and are not an investment.
6.4 Merchants should therefore withdraw regularly rather than hold working capital on the platform. See the Crypto-Asset Risk Disclosure.
7. Third-party risks outside Paysell's control#
7.1 Stablecoin issuer. USDT is issued by a third party, which has the technical ability to freeze balances at specific addresses. A freeze affecting a wallet Paysell controls could affect merchant balances. Paysell cannot prevent, reverse or appeal such a decision.
7.2 Network. The Open Network is a public blockchain operated by independent validators. Congestion, outage, fork or protocol change may delay or prevent crediting and withdrawals.
7.3 Irreversibility. Blockchain transactions cannot be reversed. There are no chargebacks and no recall mechanism.
8. Merchants' own obligations#
8.1 Paysell's regulatory status says nothing about yours. Depending on what you sell and where, you may need a gambling license, a financial services authorization, a pharmacy license, an adult-content registration or other permissions. You may also have obligations for anti-money-laundering, consumer protection, advertising, distance selling, tax and accounting.
8.2 Accepting crypto-assets usually has tax and accounting consequences — recognition of income at the time of receipt, valuation, and reporting. Paysell does not provide tax, accounting or legal advice, and does not issue tax documentation on your behalf.
8.3 You must satisfy yourself that using a custodial crypto payment service is permitted for your business and in your jurisdiction. See the Acceptable Use Policy and the Merchant Verification (KYC/KYB) Policy.
9. Anti-money-laundering position#
9.1 Paysell applies the risk-based controls described in the AML/CTF and Sanctions Policy, and that document states openly which controls are in place today and which are still being built.
9.2 Paysell reserves the right to require verification, to hold funds, to delay or refuse withdrawals, to suspend accounts and to report to authorities, whether or not it is subject to a statutory obligation to do so in a given jurisdiction.
10. Marketing and representations#
10.1 Paysell does not describe itself as licensed, regulated, authorized, supervised, insured or guaranteed unless and until that is true, and does not permit merchants or partners to describe it that way.
10.2 If you see a Paysell page, advertisement or partner claim that conflicts with this statement, report it to [[Legal email]]. The published version of this document at https://paysell.me/legal prevails over any marketing material.
11. Changes and review#
This statement is reviewed at least annually and immediately upon any change to Paysell's registration or licensing position, its jurisdiction, its supported assets or its custody model. The current version is published at https://paysell.me/legal with its version number and effective date.
Contact#
[[Company legal name]], [[Registered address]], [[Jurisdiction]]
- Regulatory, compliance and due diligence questionnaires: [[Compliance email]]
- Legal notices, regulator and law enforcement requests: [[Legal email]]
- General support: [[Support email]] or a ticket in the merchant cabinet