Cyprus

The regulatory framework of cryptocurrency ecosystem in Cyprus is harmonised with crypto legislation in the European Union (EU) and therefore is currently mainly focused on consumer protection, anti-money laundering and counter-terrorist financing. The rules of the framework span from the registration of the cryptocurrency companies to the monitoring of their operations.

The main legislation that distinguishes and regulates cryptocurrencies in Cyprus is the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 (the AML/CFT Law), enforced by the the Cyprus Securities and Exchange Commission (CySEC) who’s responsible for supervising compliance with regulations of anti-money laundering and counter-terrorist financing (AML/CFT) among crypto asset service providers (CASPs) operating in or from Cyprus.