• There will be a preliminary evaluation until its implementation in December

Crypto-Asset Service Providers in Cyprus are from today able to apply to the Cyprus Securities and Exchange Commission (CySEC) for a preliminary assessment for the EU’s Markets in Crypto-assets Regulation (MiCAR). For further information you can find the relevant announcement here.

The decision by CySEC to implement a preliminary examination phase for MiCAR, also allows its authorised entities to notify the Regulator of their intention to provide crypto-asset services.  Application and notification forms are available on CySEC’s website.

“This initiative is designed to ensure a smooth transition to MiCAR which represents a major step forward for the protection of investors in financial markets” said the CySEC Chairman, Dr George Theocharides.

The decisions for granting/refusing authorisation or as to the completeness of a notification will be made by CySEC following MiCAR’s application for CASPs on 30 December 2024.