• Sun, 26 May 2019, 01:06 AM
  • All times are UTC
  • Edition:
    International
Link copied

Cyprus SEC establishes fintech and regtech-focused innovation hub

Cyprus Securities and Exchange Commission (CySEC)

Mon, 30 Jul 2018, 03:30 am UTC

The Cyprus Securities and Exchange Commission (CySEC) has established an Innovation Hub in order to address and explore fintech and regtech developments.

Expected to become operational in September, the Innovation Hub will provide a platform where the entities engaged in innovative technologies will have ongoing access to CySEC to best understand and implement their regulatory requirements. The objective is to foster a better, more effective relationship between entities operating in this area and the way they are regulated.

“The establishment of the Innovation Hub marks an important and exciting step for CySEC’s supervision of new and innovative Fintech companies in Cyprus. In promoting closer ties with these fledgling but fast-growing industries, we aim to best protect investors by fully understanding the risks and benefits these new products bring,” Demetra Kalogerou, Chair of the CySEC, said.

The initiative particularly aims to facilitate the exchange of information between innovative industries that operate in the FinTech and RegTech spaces. In addition, it will offer fintech firms access to specialised regulatory expertise, industry and academic roundtables. These entities will also have a “voice to improve CySEC’s understanding of the risks and benefits of new innovative investment products and platforms, using Distributed Ledger Technology (DLT) (e.g. Blockchain), enabling a more informed regulatory landscape,” CySEC said.

In its official release, CySEC said that eligible firms interested in having their sector or products included and examined by the Innovation Hub will be able to submit a request for further study once the hub is operational.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $8,052.60 (+0.47%)
  • Ethereum (ETH) $251.93 (+0.66%)
  • XRP (XRP) $0.385800 (+0.02%)
  • Bitcoin Cash (BCH) $406.73 (-0.76%)
  • Litecoin (LTC) $103.50 (+3.47%)
  • Bitcoin (BTC) $8,052.60 (+0.47%)
May 24, 2019 (Friday)
12:18
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
10:50
German engineering giant Bosch trials Ethereum blockchain
10:39
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
09:33
Bank of Russia to review proposal on gold-backed cryptocurrency
09:17
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
08:45
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
08:45
Robinhood Crypto is now in New York
07:27
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
07:25
California resident sued for alleged $26M crypto Ponzi scheme
06:33
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
06:16
Rep. Swalwell accepting bitcoin donations in bid for US presidency
06:10
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
05:12
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
05:07
Binance CEO CZ seeks compensation for reputational damage from Sequoia
04:06
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
03:57
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
03:14
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
12:15
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
12:11
Coinstar extends bitcoin buying service to 21 US states
11:38
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft