Cyprus declares war on crypto providers, unleashes heavy fines and jail time
Cyprus is taking significant steps to fortify its regulatory framework within the cryptocurrency sector. The country is set to implement rigorous penalties for cryptocurrency service providers (CSPs) that neglect to register with the appropriate authorities. These penalties, encompassing substantial fines reaching as high as €350,000 and the possibility of imprisonment for up to five years […]
Bybit obtains crypto exchange license in Cyprus
Dubai-based crypto exchange Bybit has achieved a significant milestone by obtaining a license to operate a crypto exchange and offer custody services in Cyprus. This move comes after Bybit faced challenges in Japan and exited the Canadian and U.K. markets. Bybit’s commitment to regulatory compliance and dedication to robust frameworks have been key factors in […]
Binance’s Cyprus unit seeks deregistration
The biggest crypto exchange, Binance, requests that its Cyprus branch be deregistered to concentrate on its broader European operations. This action was taken as regulatory scrutiny increased, and the U.S. Securities and Exchange Commission (SEC) recently launched a lawsuit. Changpeng Zhao, the CEO of Binance, has refuted claims of market manipulation and selling Bitcoin to […]
Cyprus financial regulator issues new guidance for crypto trading
TL:DR Breakdown: CySEC recently published a guide for crypto trading in the country. The regulator wants investment platforms to maintain a risk-mitigated environment for crypto-assets trading. In a recent publication, the financial regulator of the Republic of Cyprus, CySEC, or the Cyprus Securities and Exchange Commission, informed about the issuance of new cryptocurrency regulation in […]
