The Cyprus Securities and Exchange Commission (CySEC) has launched its Regulatory Sandbox. The Regulatory Sandbox is now open for applications from those involved in FinTech and RegTech in Cyprus.

Regulatory Sandbox Now Live

Details about the Regulatory Sandbox are available on CySEC's website. CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term has updated this section to help interested parties. The updates include videos of the presentations from the launch event and a Frequently Asked Questions document. The presentations cover the context of the Regulatory Sandbox Sandbox A sandbox is a commonly deployed term in the fintech universe, referring to a mechanism for developing regulation that keeps up with the fast pace of innovation.In scope of the computer science world, a sandbox is also associated with a closed testing environment that designed for experimenting safely with web or software projects.Sandboxes are very important to the regulatory field, though is also utilized within the digital economy space.The first regulatory sandbox was launched in the United A sandbox is a commonly deployed term in the fintech universe, referring to a mechanism for developing regulation that keeps up with the fast pace of innovation.In scope of the computer science world, a sandbox is also associated with a closed testing environment that designed for experimenting safely with web or software projects.Sandboxes are very important to the regulatory field, though is also utilized within the digital economy space.The first regulatory sandbox was launched in the United Read this Term. They also explain its legal and operational aspects.

The CySEC launched its Regulatory Sandbox on June 11, 2024, via an online event, as Finance Magnates reported. Over 500 stakeholders from the financial sector attended, including representatives from regulatory bodies, financial institutions, and innovative firms. Participants received information on the Sandbox's operational framework and its potential benefits for market participants.

CySEC publishes further information on its Regulatory Sandboxhttps://t.co/gqL3m5EUUA

Η ΕΚΚ δημοσιεύει επιπρόσθετες πληροφορίες αναφορικά με το Ρυθμιστικό της Δοκιμαστήριοhttps://t.co/09hroedEzA

— CySEC (@CySEC_official) July 12, 2024

CySEC Seeks MiCA Feedback

The CySEC has initiated a consultation to collect market feedback on proposed fees and reporting requirements under the Markets in Crypto-Assets Regulation (MiCA). This effort seeks stakeholders' input to shape the future regulatory framework, with responses due by July 17, 2024.

MiCA aims to establish a unified regulatory framework for crypto-assets across Europe, targeting fungible crypto-assets not classified as financial instruments. Effective from May 31, 2023, MiCA seeks to provide clarity and consistency in the crypto market.

The regulation categorizes crypto-assets into three types: asset-referenced tokens (ARTs), electronic money tokens, and other crypto-assets. MiCA also introduces new categories of entities under CySEC supervision, including offerors of crypto-assets, issuers of ARTs (excluding credit institutions), and crypto-asset service providers.

MiCA has already prompted changes in the industry. For example, Binance announced plans to comply with MiCA's requirements for issuing and offering stablecoins.