On the 18th of January 2023 we attended the event of the WoW series (World on Wednesdays) titled “The latest developments in the Financial Services sector and the role of Cyprus Securities and Exchange Commission (CYSEC)”. The event was organized by the Ministry of Foreign Affairs. Dr. George Theocharides, who is the Chairman of CySEC, was invited as a guest speaker.
Amongst other, Dr. Theocharides highlighted the importance of the financial service sector for Cyprus. He provided statistics in regard to the market which is under the supervision of CySEC and elaborated on the (new) regulations in regards to Crypto Asset Services Provider in Cyprus and within Europe (European Regulation on markets in crypto assets MiCA.
The official presentation was followed by questions of the audience answered by the presenter. The event showed once more Cyprus interest in the Crypto Asset Service Provider (CASP) market, the importance of implementing a Compliance Framework and the protection of especially retail investors. Y. Vasiliou & Co LLC (Vasiliou Law) has the full capabilities of assisting companies with the application and promotion of a license for the provision of services as crypto asset service provider. Vasiliou Law employs experts, who can assist with the establishment and implementation of an efficient and effective Anti-Money Laundering (AML) Framework in line with the requirements of CySEC.