As reported by Cyprus Mail, the commission has already issued a circular on this issue, and the potential of the technology to transform transferring assets processes and foreign exchange. Furthermore, CySEC is also in the process of assessing a draft legislation on the introduction of fundraising mechanism for startups through crowdfunding.
Thus, the commission’s effort will focus on a wider use of regtech and fintech, aiming to preserve the country’s dynamics in the provision of financial services and products.
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