Home Cyprus To Regulate Crypto Exchanges

Cyprus To Regulate Crypto Exchanges

Share
Share

Cyprus To Regulate Crypto Exchanges 

Cyprus is set to amend its Prevention and Suppression of Money Laundering Law to align with international standards for anti-money laundering and combating the financing of terrorism (AML/CFT) set by the Financial Action Task Force (FATF) and the recommendations of the MONEYVAL November 2022 report. The amendments require service providers dealing with crypto assets to register with the Cyprus Securities and Exchange Commission (CySEC).

Crypto firms already registered in other European states must register with the CySEC, as included in the amendments by the Commission. Violations can result in fines of up to €350,000, imprisonment of up to five years, or both. Cyprus, an EU member, has tightened crypto rules ahead of MiCA, addressing concerns from the Cyprus Bar Association about the law’s scope.

(With inputs from Shikha Singh)

Share

Latest News

Greece Approves 10% Tax on Cryptocurrency Gains
News

Greece Approves 10% Tax on Cryptocurrency Gains

Greece’s parliament has approved a 10% capital gains tax on cryptocurrency profits, with annual gains of up to €500 exempt. The approved...

Kraken Parent Payward & Clients Buy AAVE Tokens
News

Kraken Parent Payward & Clients Buy AAVE Tokens

Payward, the parent company of cryptocurrency exchange Kraken, and its clients have purchased AAVE tokens through secondary-market transactions. The investment was made...

Samsung Wallet Adds USDC Accounts On Solana
News

Samsung Wallet Adds USDC Accounts On Solana

Samsung has launched its Stablecoin Account feature in the US, allowing eligible Galaxy users to buy, hold and transfer USDC on Solana....

Trump-backed WLFI Announces Token Buyback Plan
News

Trump-backed WLFI Announces Token Buyback Plan

Trump-backed World Liberty Financial has announced a token buyback programme funded initially through fees generated by its USD1 stablecoin reserves and other...

Related Articles

Best Crypto Trading Bots In 2026

Running a crypto trading strategy manually can be challenging when markets are...

Reasons Why The U.S. Tops AI Agent Commerce

The concept of agentic commerce where agents can purchase digital services and...

Do You Need A Cryptocurrency Trading Bot?

The crypto market never closes. Bitcoin can move while you are sleeping,...

How To Use Dexscreener To Find Crypto Gems

If you have ever looked at a new crypto token and wondered...