The Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law. One of the friendliest European jurisdictions to crypto, Cyprus, might bring its industry regulation to tighter standards. According to an Oct. 10 report by the Cyprus Mail, the local Ministry of Finance intends to amend the existing Prevention and…
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Following Binance’s departure from Cyprus, Bybit strengthens the island’s crypto ecosystem after acquiring an operating license. Crypto exchange Bybit revealed it has acquired a license to operate as an exchange and custody service in Cyprus. The world’s third most visited crypto exchange will begin offering trading between crypto and fiat currency pairs, and crypto-related financial…
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The world’s largest crypto exchange, Binance, said it’s exiting the Dutch market as it has been unable to obtain registration as a crypto service provider. The news comes after Binance’s entity in Cyprus applied to be removed from the country’s register of digital asset service providers. Binance Leaves the Netherlands and Cyprus to Focus on…
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FTX Europe is one of roughly 130 companies in FTX Group that will be a part of bankruptcy proceedings in the United States. The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its Europe…
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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…
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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
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Crypto.com exchange follows in FTX’s footsteps by targeting aggressive expansion in Europe after receiving CySEC approval. Singapore-based cryptocurrency exchange Crypto.com continues to aggressively expand its reach, becoming the latest crypto firm officially authorized to operate in Cyprus. Crypto.com has received regulatory approval from the Cyprus Securities and Exchange Commission (CySEC), the firm announced to Cointelegraph…
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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…
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Cyprus’s finance ministry stressed the need to accelerate its capacity building for the crypto industry. Cyprus is moving to regulate the cryptocurrency industry, with the country’s finance ministry releasing a national risk assessment on crypto. Published on Monday, the official documentation provides a risk assessment for the Republic of Cyprus regarding money laundering risks related to…
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