Krutika Adani
Cyprus SEC prepares to transition from local crypto laws to the new pan-EU MiCA laws.
Companies can operate under the current three crypto laws till 1 July 2026 if they register themselves before the deadline.
Cyprus SEC has fixed a deadline of 30 December 2024 for companies to apply to continue under the older laws.
MiCA is a pan-European crypto legislation passed by the European Parliament and regulates crypto entities in the EU.
Though the legislation covers stablecoins, cross-border payments, and a few important areas, it still lags coverage for NFTs, RWAs, and many common crypto assets.