About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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ESMA explores alternative identification options for financial reporting with new survey
On 18 October 2024, the European Securities and Markets Authority (ESMA) opened a survey to gather insights on potential alternatives to the Legal Entity Identifier (LEI) for financial reporting and record-keeping. This initiative is part of ongoing discussions about introducing alternative identification methods for legal entities, particularly in light of recent opinions from European Supervisory Authorities (ESAs).
11 Nov 2024
ESMA’s opinion on broker models: Harmonising Crypto-Asset Regulation
On 31 July 2024, the European Securities and Markets Authority published an opinion addressing the risks presented by various brokerage models to be adopted by EU crypto-asset service providers seeking to be licensed under Regulation 1114/2023 on markets in crypto-assets, while relying on other non-EU entities in their group for their operations.
01 Nov 2024
CySEC updates on transitional measures for crypto-asset providers and local CASP regime
On 17 October 2024, the Cyprus Securities and Exchange Commission (CySEC) issued a statement informing the public that it will no longer accept new applications from crypto-asset service providers (CASPs) in the context of the local CASP registration regime under the Prevention and Suppression of Money Laundering and Terrorist Financing Law 2007 (the Local CASP Regime).
21 Oct 2024
MiCA July updates: New guidelines, increased transparency and supervision priorities
Following the entry into effect of the provisions on Asset-Referenced Tokens and Electronic Money Tokens under Regulation (EU) 2023/1114 on 30 June 2024, July was packed with a number of significant MiCA-related developments.
08 Aug 2024
CySEC launches Regulatory Sandbox for FinTech and RegTech innovations
On 11 June 2024, the Cyprus Securities and Exchange Commission launched its Regulatory Sandbox, which offers a platform for testing new technologies in a controlled environment and promoting innovation in financial and regulatory services.
07 Aug 2024
EBA issues Travel Rule Guidelines for crypto asset and fund transfers
On 4 July 2024, the European Banking Authority published its finalised new guidelines on the 'travel rule' under EU Regulation 2023/1113 which repealed and replaced EU Regulation 2015/847.
05 Aug 2024
CySEC announces new requirement for Crypto-Asset Service Providers
On 30 July 2024, the Cyprus Securities and Exchange Commission issued Circular 654 addressed to CIFs, AIFMs, and UCITS Management Companies intending to offer crypto-asset services and providing an update following Circular 648.
02 Aug 2024
CySEC mandatory survey for regulated entities active in crypto-assets
On 26 June 2024, the Cyprus Securities and Exchange Commission issued Circular 648 informing regulated entities about the notification procedure under Article 60 of Regulation 1114/2023 on markets in crypto-assets.
10 Jul 2024
CySEC seeks market input on MiCA fees and reporting requirements
On 26 June 2024, the Cyprus Securities and Exchange Commission (CySEC) released a Consultation Paper (CP-01-2024) to gather feedback on the proposed fees for actions taken by entities in relation to Regulation 1114/2023 on markets in crypto-assets (MiCA Regulation).
09 Jul 2024