MiCA rules are due to be introduced in Cyprus by the end of 2024. They are designed to protect investors, increase the level of transparency of transactions on crypto exchanges and combat money laundering.
The Chairman of the Cyprus Securities and Exchange Commission, Giorgos Theocharides, recommends that all companies involved prepare for innovation. All companies should begin implementing the KYC procedure and, if necessary, hire additional staff for this.
All investors are urged to be careful when conducting any crypto transactions to avoid financial risks, as at this stage, until the implementation of the MiCA rules, their interests are not protected.