Cyprus has taken the path of developing its own rules for cryptocurrencies

According to the European Innovation Scoreboard, Cyprus was ranked second in terms of innovation last year.

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About this pacckazalDeputy Minister for Research, Innovationand digital policy of the country Kyriakos Kokkinos at a meeting with the local fintex community. The event was dedicated to digital assets, entrepreneurship and financial technologies.

Commenting on the future of digital assets in Cyprus, including cryptocurrencies, the minister drew a fine line between innovation and law enforcement.

“I can tell you that Cyprus welcomesthe use of digital and crypto assets, but we still have to be very careful and respect not only the rules currently in force, but also the absence of any rules.

Then the official said that the Cypriot government had already prepared a "very attractive bill on crypto assets." It has already been published, and interested parties can familiarize themselves with it.

“Our task is not to harmonize with the EU,a в дилeммe: ждaть ли дopaбoтки нopмaтивнo-пpaвoвoй бaзы EЦБ или дeйcтвoвaть caмocтoятeльнo, пpи этoм пepвый cцeнapий тaкжe пpeдпoлaгaeт вoзмoжнocть чpeзмepнoгo peгулиpoвaния этoй cтpуктуpы», — зaмeтил Kиpиaкoc Koккинoc.

 

"My answer is that we will act alone, following the rules."

The Deputy Minister admitted that there are certain problems, including some disagreements between the government and the Central Bank of Cyprus (CBK).

“We must remember that the Central Bank is subject toThe European Central Bank (ECB), and central banks are usually conservative, so our task is to challenge them through debates,” the deputy minister concluded his speech.

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