Crypto-Asset Service Providers in Cyprus are able, as of today, to apply to the Cyprus Securities and Exchange Commission (CySEC) for a preliminary assessment for the EU’s Markets in Crypto-assets Regulation (MiCAR), a CySEC press release says.

The decision by CySEC to implement a preliminary examination phase for MiCAR, also allows its authorised entities to notify the Regulator of their intention to provide crypto-asset services. 

Application and notification forms are available on CySEC’s website.

“This initiative is designed to ensure a smooth transition to MiCAR which represents a major step forward for the protection of investors in financial markets” said CySEC Chairman, Dr George Theocharides.

The decisions for granting/refusing authorisation or as to the completeness of a notification will be made by CySEC following MiCAR’s application for CASPs on 30 December 2024. 

CNA/KCH/EPH/2024

ENDS , CYPRUS NEWS AGENCY