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Cyprus Securities and Exchange Commission (CySEC) is in the advanced stages of drafting new crypto-assets regulations.\u00a0<\/strong><\/p>\n CySEC Chairwoman Demetra Kalogerou revealed this development at a <\/span>conference<\/span> on Wednesday. The conference held to celebrate the financial regulator\u2019s 25th birthday highlighted some of the key economic activities on the horizon.\u00a0<\/span><\/p>\n According to Kalogru, the regulator was working on regulations to govern the registration of cryptocurrency asset service providers. <\/span><\/p>\n \u201cSupervision will be mainly concerned with money laundering. Recently, we have issued our directive concerning cryptocurrencies, and we will prepare the relevant applications by September of this year.\u201d<\/strong><\/p>\n<\/blockquote>\n Kalogru further added that a draft law is currently in the works to ensure a financial framework that will guide companies that take part in running alternative investment funds. <\/span><\/p>\n “The target is for the House of Representatives to enact a new national law by next year. CySEC is also reviewing the permissible investment strategies for fund managers and the applicable rules focusing on the area of loan origination and loan participation,\u201d she concluded.\u00a0<\/strong><\/p>\n<\/blockquote>\n Cyprus Finance Minister Constantinos Petrides also confirmed the move during his speech at the conference. <\/span><\/p>\n \u201cThe legal framework without strong supervision and enforcement is of no use. It is almost counterintuitive but, a strong capital market can only exist where everybody plays by the same rules, investors are protected, and fraudulent or illegal activity is thwarted promptly and decisively,” he added.\u00a0<\/strong><\/p>\n<\/blockquote>\n<\/span>Cyprus Working On Cryptocurrency Regulatory Bill<\/strong><\/span><\/h2>\n
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<\/span>No Clear Crypto Laws in Cyprus<\/strong><\/span><\/h2>\n