The enactment of the 5th Anti Money Laundering Directive via amendment of Law 188(I)/2007 constitutes the introduction of mandatory crypto assets regulation in Cyprus. In light of further emerging national and European regulation, a balance should be struck between initiative and consistency.
With reference to the announcement of the Department of Registrar of Companies and Official Receiver on the 16th of April 2020 and the publication of the Companies (Amendment) (No. 4) Law of 2020 (the “Law”) to the Official Gazette of the Republic of Cyprus on the 17th of December 2020 (Par. I (I), No. 4794), the Department of Registrar of Companies and Official Receiver officially announced the following: