Cyprus Securities Watchdog launches Blockchain Innovation Hub


The Cyprus Security and Exchange Commission is exploring options to take advantage of financial innovation while maintaining regulatory control over a dynamic, ever-evolving sector, blockchain and cryptocurrency.

Because of its strategic position, Cyprus has long been a unique financial center for Europe. In recent years, the Mediterranean nation has rapidly become a point of reference for the most advanced technologies.

This led to a number of startup blockchain wishing to open stores on the island.

Now, both the University of Nicosia and the Cyprus International Institute of Management host world-class seminars and conferences on topics related to digital currency and blockchain technology.

The Cyprus Security and Exchange Commission (CySEC) came into play, having recently set up an Innovation Hub focused on blockchain.

Companies that pass the application process have access to specialist skills and industry roundtables while maintaining the ability to communicate with CySEC while working on blockchain innovation issues.

President of CySEC Demetra Kalogerou imagines the Hub as a place where industries can easily dialogue with each other and with regulatory bodies, while helping CySEC to improve understanding of products and investment platforms that use DLT.

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