The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering and Terrorist Financing Law.
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.
According to eToro deputy CEO Hedva Ber, Europe is “hugely important” for the firm as the majority of eToro users are based in the region.13757
Following Binance’s departure from Cyprus, Bybit strengthens the island’s crypto ecosystem after acquiring an operating license.10351
The Cyprus SEC lists the exchange as “Under examination for application for deregistration” on the island.7845
FTX EU was only approved by the Cyprus regulator in March 2022, about seven months before FTX collapsed in November.17426
Evidence found that Australians were among the top countries targeted in a sophisticated cryptocurrency investment scam network, which has suspected kingpins in Israel.16972
Among the education centers involved include colleges in Australia, Cyprus and Germany, Nigerian-based tech hub Utiva, Women in Tech, and two Ukrainian organizations.9015
FTX Europe is one of roughly 130 companies in FTX Group that will be a part of bankruptcy proceedings in the United States.5106
The island nations of Malta and Cyprus are still ahead of their bigger neighbors when it comes to crypto regulation.5972
Crypto.com exchange follows in FTX's footsteps by targeting aggressive expansion in Europe after receiving CySEC approval.5188
Cyprus’s finance ministry stressed the need to accelerate its capacity building for the crypto industry.4058
As vaccinations continue to be rolled out globally, more countries are starting to open up their borders to tourists.14797
Cyprus is becoming a hotspot for Blockchain technology.23321
The Cyprus Securities and Exchange Commission blacklists another batch of allegedly illegal firms offering crypto and FX trading.7586
VeChain’s medical records blockchain platform in Cyprus lets people prove, and control, COVID-19 test results.9179