In June, 2021 the Cyprus Securities and Exchange Commission (“CySEC”) issued the Directive for the registration of Crypto Asset Service Providers (“CASPs”) and, for the first time, defined the “crypto – asset” as an asset with a digital value, which is not issued or guaranteed by a Central Bank or a Public Authority. In light of this, the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 to 2021 makes the first step towards the regulation of crypto – assets’ related activities and sets the obligation to CASPs to become approved / registered in the relevant registry with CySEC.

CASPs that provide services in or from Cyprus must submit a duly completed application form, along with relevant questionnaires and any additional information and/or required evidence and pay the corresponding fee.