Cyprus Urges Collective Crackdown on Crypto Terror Financing
Cyprus’ ICPAC urges accountants and auditors to help combat terror financing, highlighting cryptocurrencies as a key focus. A regulatory authority in Cyprus has requested the assistance of accounting and audit specialists in detecting and preventing terrorist financing activities. The authority has placed a particular emphasis on five methods of fund transfer, including cryptocurrencies. A “terror […]
Cyprus to Tighten Crypto Regulations Following FATF Rules
Cyprus, one of the most crypto-friendly jurisdictions in Europe, may tighten its industry’s regulations to amend the current Prevention and Suppression of Money Laundering Law. The ministry has presented its package of amendments to the Committee on Legal Affairs of the Parliament. It seeks to align Cyprus with international standards for anti-money laundering and combating […]
Bybit Expands Global Presence With Cyprus Crypto License
Bybit exchange has announced that it has obtained a license to operate a cryptocurrency exchange in Cyprus and offer custody services for digital assets. This announcement comes after facing regulatory challenges, including investigations in Japan and discontinuing services in Canada and the United Kingdom. Cyprus is emerging as a hub for cryptocurrency, with a growing […]
Binance’s Cyprus Unit Seeks Deregistration as Service Provider
Binance has applied to have its registration as a distributor of crypto assets revoked in its Cyprus office, as reported by the nation’s securities commission. The commission did not provide any explanations for the application. Binance is a prominent player in the cryptocurrency industry and operates in several countries, including Cyprus, where it offers a […]