In July 2018 the Cyprus Securities and Exchange Commission ("CySEC") announced its plan to establish an Innovation Hub focusing on FinTech and RegTech developments, aimed at fostering a closer, more effective relationship with entities operating in these rapidly-evolving sectors and improving the way they are regulated. Through the Innovation Hub both regulated and non-regulated entities in innovative or new industries will have ongoing access to CySEC to best understand and implement their regulatory requirements.
CySEC has now announced the eligibility criteria for participation in the Innovation Hub and is inviting applications from eligible businesses which are interested in having their sector or products assessed by the Innovation Hub.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.