Source: in-cyprus.philenews.com
Cyprus’s Securities and Exchange Commission (CySEC) has launched a preliminary assessment process for Crypto-Asset Service Providers (CASPs) under the EU’s Markets in Crypto-Assets Regulation (MiCAR).
CySEC announced today that licensed entities can now notify the regulatory authority of their intention to provide crypto services, with application and notification forms available on the commission’s website.
“This preliminary stage is designed to ensure a smooth transition to MiCAR, which marks a significant step forward for investor protection in financial markets”, said CySEC chairman Dr George Theocharides.
The commission clarified that final decisions on licensing approvals, rejections, or notification completeness will only be made after MiCAR comes into effect for CASPs on December 30, 2024.
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