Key deadlines for crypto-asset regulation are approaching, as Cyprus’ regulator announced that the EU’s Markets in Crypto-Assets Regulation (MiCAR) will take effect for service providers by December 2024, with registration closing by October. Providers already registered may operate until mid-2026 or until their authorization status is determined, marking a major shift in crypto compliance across […]
Report: Cyprus Mulls Imposing Hefty Fines on Unregistered Crypto Service Providers
Crypto firms that operate in Cyprus without registration may soon be fined as much as $ 350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align the country’s laws with the …