Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations
Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added. Government of Cyprus to Submit ‘Attractive’ Crypto Bill Cyprus has an “enviable position” in the EU when it comes to innovation, with the second-best progress last year, according to the European Innovation Scoreboard, the country’s Deputy Minister for Research, Innovation and....
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A government official stated that Cyprus has drafted its own legislation to handle crypto assets and is likely to adopt it before Europe finalizes an uniform regulatory guideline. Kyriacos Kokkinos, Deputy Minister for Research, Innovation, and Digital Policy, announced this during a Larnaca meeting with the local fintech community. The meeting was organized by the […]
Cryptocurrency exchange Binance will be able to offer services for digital assets in Cyprus as the platform is now registered with the country’s securities regulator. The news comes after the company obtained similar approvals in several other European jurisdictions. Global Exchange Binance to Comply With Cyprus Crypto Regulations Binance, the world’s leading crypto exchange in terms of daily trading volume, has received regulatory authorization in Cyprus. Its local entity, Binance Cyprus Limited, was granted Class 3 registration as a Crypto Asset Services Provider (CASP), the trading....
According to IndieSquare Co-founder Koji Higashi, new regulations in Japan, which will make Bitcoin an official form of payment, may do more harm than good for the fledgling industry in the country. Japan to Introduce Own ‘Bitlicense’. Following the disastrous demise of the infamous Japanese exchange, Mt. Gox and the arrest of its CEO Mark Karpelès, regulators in the country decided to introduce regulations for Bitcoin. The regulatory framework has been in the works for over two years. The first bill was submitted to the Diet in Japan (the legislature consisting of the Lower and the Upper....
The National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry. They are about to introduce two drafts to regulate the country’s exchanges that aim to combat terrorism, money laundering, and protecting consumers. Kyrgyzstan Central Bank Set to Introduce Two Crypto Bills to Combat Terrorism Financing and Fraud According to Sputnik Kyrgyzstan, the central bank’s bills hope to add a series of anti-money laundering (AML) and combating the financing of terrorism (CFT) measures that should force local crypto exchanges to report their....
U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation.
Revolut to Expand Crypto Services for Europeans From Cyprus
A leader in the neobank sector, Revolut, has received approval from the Cyprus Securities and Exchange Commission (CySEC) to operate with cryptocurrencies and other digital assets. The company plans to establish a cryptocurrency hub on the island that will allow....