Cyprus is becoming a hotspot for Blockchain technology.
Cyprus is an island republic in the eastern Mediterranean with a population of around one million. Cyprus has a diversified and prosperous free-market economy that is mostly built on the its service industry, with its most important exports being medicine, agriculture and products of light manufacturing. However, the economy of Cyprus largely suffered from the eurozone banking crisis, which it has only started to recover from since 2014. Cyprus has a good investment climate due to its liberalized stock exchange and business-friendly tax system that led to the establishment of Cyprus as a financial hub for investments from Asia, Russia and Eastern Europe. The use of Bitcoin is not regulated in Cyprus. Although the Central Bank of England issued a warning statement about the use of cryptocurrencies, Cyprus continues to welcome blockchain and cryptocurrency startups, and it allows Bitcoin exchanges and ICOs.
The Cyprus Securities and Exchange Commission blacklists another batch of allegedly illegal firms offering crypto and FX trading.6784
VeChain’s medical records blockchain platform in Cyprus lets people prove, and control, COVID-19 test results.8731
A hospital in Cyprus will soon deploy a blockchain-based medical data management system built by VeChain.5498
Despite the unregulated status of crypto in Cyprus, the nation's securities regulator is promoting and adopting blockchain.3189
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Cyprus’ SEC recently flagged three investment platforms that look almost identical and falsely asserted ties to licensed firm BDSwiss.5410
The finance minister of Cyprus, Harris Georgiades, said that the country’s blockchain regulation draft will be ready this year.6655
Cyprus’ securities regulator is calling for the transposition of an extended version of the European Union’s Fifth Anti-Money Laundering Directive into national law.6752
During an EU meeting, seven southern EU member states released a declaration asking for help in the promotion of blockchain.9394
A Cyprus court has dropped the lawsuit against alleged BTC-e former operator Alexander Vinnik, with the next session scheduled for Nov. 29.4186
The Cypriot government has signed an MoU with blockchain startup VeChain through its national investment partner Invest Cyprus for developing the blockchain industry in the country.11240
The Cyprus Securities and Exchange Commission (CySEC) has announced its intention to integrate Blockchain or distributed ledger technology (DLT) to its electronic payment system.11077
Precious metals and cryptocurrency will likely benefit from the inherent flaws in our debt-based monetary system, but owning one type of asset shouldn’t deter anyone from investing in the other.16830
International Forex trading hub, Cyprus, signals that much tighter standards will be enforced within 9 months, causing uncertainty among FX companies, some of them holding bitcoin/fiat positions.4015