Blog
Policy Statement on the Registration and Operations of Crypto-Asset Service Providers
The Cyprus Securities and Exchange Commission (“CySEC”) has issued a Policy Statement on the Registration and Operations of Crypto Asset Services Providers (“CASP”) – PS-01-2021 in an effort to regulate more effectively the cryptocurrency industry. The CySEC is...
Review of the Revised FATF Standards on Virtual Assets and Virtual Asset Service Providers
Article Author: Theocharis Georgiadis The emergence of new technologies and products over the last decade has been one of the major changes to the global financial system. Their positive impact on the economic and social sphere is undeniable. However, they can also...
New Directive for the Registration of Crypto-Asset Service Providers
New Directive for the Registration of Crypto-Asset Service Providers Article Author: Theocharis Georgiadis Following the recent implementation of the 5th AML Directive, the Cyprus Securities and Exchange Commission (the “CySEC”) has issued the Directive (R.A.D...
The Register of express trusts and similar legal arrangements (the “Trusts” Registry”)
The Register of express trusts and similar legal arrangements (the “Trusts’ Registry”) Following the implementation of the 5th AML Directive, which has been transposed into national legislation by the Law 13(I)/2021, the Cyprus Securities and Exchange Commission (the...
Changes to the Cryptocurrencies Regulation under the new 5th AML Directive
Article written by Charis Georgiadis Introduction The adoption of the 5th Anti-Money Laundering Directive (EU Directive 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the...
The New Prudential Framework for Investment Firms
Investment Firms Regulation (IFR)/Investment Firms Directive (IFD)
All Cyprus Investment Firms (‘CIFs’) authorised under the Investment Services and Activities and Regulated Markets Law of 2017 will be subject to a new comprehensive regulatory regime, different and independent from the Regulation EU No. 575/2013 (CRR) and Directive DI144-2014-14 which are applicable today.
5th Anti-Money Laundering Directive: What is changing?
In June 2018, the 5th Anti-Money Laundering Directive (AMLD) became law. The new AML Directive brings major changes and developments to the existing Directive (4th Directive), and the EU member states must transpose those changes and developments into their national law until 10 January 2020.