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 Cyprus to tighten crypto regulations in accordance with FATF

Cyprus to tighten crypto regulations in accordance with FATF


Published: 2023-10-10


1. Crypto Regulations in Cyprus Tightened: The main focus of the article is on the recent tightening of crypto regulations in Cyprus. This move comes in response to new guidelines from the Financial Action Task Force (FATF),which is an intergovernmental organization focused on combating money laundering and terrorist financing. Cyprus,as a member of the European Union,is obligated to implement these guidelines to ensure compliance with international standards. The article highlights the stricter identification and verification requirements imposed on cryptocurrency exchanges and wallet providers. This tightening of regulations aims to enhance transparency and prevent illicit activities in the crypto space.

2. Compliance with FATF Guidelines: Another important aspect discussed in the article is the importance of complying with FATF guidelines. The article emphasizes that failure to comply with these guidelines could result in severe consequences,including being added to the FATF's blacklist. This could harm the reputation of the country and have a negative impact on its financial sector. Therefore,it is crucial for countries like Cyprus to ensure they have robust regulatory frameworks in place to address the risks associated with cryptocurrencies.

3. Impact on the Crypto Industry: Lastly,the article touches upon the potential impact of stricter regulations on the crypto industry in Cyprus. While some argue that excessive regulations could hinder innovation and growth in the sector,others believe that a well-regulated environment is necessary for mass adoption and mainstream acceptance of cryptocurrencies. The article suggests that the tightening of regulations may increase trust and investor confidence in the crypto market,ultimately leading to its maturation and stability. However,it also recognizes the need for balance to avoid stifling innovation and driving businesses offshore. Overall,this article focuses on the recent tightening of crypto regulations in Cyprus in response to FATF guidelines. It highlights the importance of compliance,as well as the potential impact on the crypto industry in the country.


Reference: cointelegraph.com

The most traded coin


(Update every 1 hour)
at from is ($US) turnover ($)
1 ARS title=ARS 1,056.00 2,508,324,859.70
2 BTC title=BTC 62,949.56 2,017,291,636.69
3 ETH title=ETH 2,952.95 1,069,100,981.05
4 PEPE title=PEPE <0.01 806,702,265.82
5 SOL title=SOL 148.52 624,773,330.59
6 DOGE title=DOGE 0.15 365,596,522.23
7 WIF title=WIF 3.07 287,493,884.48
8 WLD title=WLD 5.55 197,867,515.01
9 BOME title=BOME 0.01 192,809,969.71
10 RNDR title=RNDR 11.24 161,525,536.34
11 XRP title=XRP 0.51 152,765,773.63
12 FLOKI title=FLOKI <0.01 132,973,379.87
13 ENA title=ENA 0.77 128,917,038.42
14 RUNE title=RUNE 5.88 119,105,502.80
15 BONK title=BONK <0.01 104,270,449.43
16 NEAR title=NEAR 7.33 103,970,476.06
17 AVAX title=AVAX 32.76 65,545,685.22
18 AR title=AR 39.63 58,687,319.71
19 ARKM title=ARKM 2.43 58,295,503.00
20 JTO title=JTO 4.18 51,467,931.60
21 ICP title=ICP 11.81 49,895,780.04
22 ORDI title=ORDI 36.94 49,422,795.31
23 ADA title=ADA 0.44 45,648,026.23
24 ETHFI title=ETHFI 3.50 42,164,033.56
25 SUI title=SUI 0.98 37,907,628.07
26 MATIC title=MATIC 0.67 36,269,018.33
27 LTC title=LTC 80.88 36,149,913.93

Coins with rapidly rising prices


(Update every 1 minute)
at from is ($US) more (%)
1 Pepe title=PEPE <0.01 +18.41
2 Chromia title=CHR 0.29 +13.74
3 FLOKI title=FLOKI <0.01 +8.77
4 NEAR Protocol title=NEAR 7.33 +6.82
5 Dogecoin title=DOGE 0.15 +6.38
6 Polymesh title=POLYX 0.40 +5.27
7 Jito title=JTO 4.18 +4.77
8 ConstitutionDAO title=PEOPLE 0.03 +4.63
9 dogwifhat title=WIF 3.07 +4.29
10 Render title=RNDR 11.24 +3.82
11 xMoney title=UTK 0.08 +3.80
12 Qtum title=QTUM 3.60 +3.78
13 Bonk title=BONK <0.01 +3.61
14 Solana title=SOL 148.52 +3.43
15 Wrapped Bitcoin title=WBTC 63,021.82 +3.20
16 Vanar Chain title=VANRY 0.17 +3.17
17 Perpetual Protocol title=PERP 1.00 +3.09
18 Horizen title=ZEN 8.39 +3.07
19 Memecoin title=MEME 0.02 +3.06
20 Bitcoin title=BTC 62,949.56 +3.03
21 Alien Worlds title=TLM 0.02 +2.97
22 JasmyCoin title=JASMY 0.02 +2.90
23 Lisk title=LSK 1.97 +2.66
24 Wrapped NXM title=WNXM 62.84 +2.65
25 Stacks title=STX 2.04 +2.56
26 ORDI title=ORDI 36.94 +2.38
27 Ankr Network title=ANKR 0.04 +2.27
28 Biconomy title=BICO 0.42 +2.24
29 BOOK OF MEME title=BOME 0.01 +2.22
30 BakerySwap title=BAKE 0.27 +2.11

The price of coins is falling rapidly.


(Update every 1 minute)
at from is ($US) reduce (%)
1 Saga title=SAGA 2.45 -13.11
2 Bounce title=AUCTION 14.50 -13.07
3 iExec RLC title=RLC 2.99 -10.25
4 UMA title=UMA 3.92 -10.16
5 BENQI title=QI 0.02 -10.00
6 SuperRare title=RARE 0.13 -9.62
7 Renzo title=REZ 0.12 -8.96
8 Tensor title=TNSR 0.84 -8.96
9 Aergo title=AERGO 0.13 -8.29
10 Aevo title=AEVO 1.08 -7.85
11 Viction title=VIC 0.43 -7.71
12 Omni Network title=OMNI 16.01 -7.14
13 Stafi title=FIS 0.46 -6.95
14 Ethena title=ENA 0.77 -6.92
15 Voyager title=VGX 0.08 -6.85
16 Orion title=ORN 1.30 -6.62
17 GMX title=GMX 28.16 -6.48
18 Polkastarter title=POLS 0.69 -6.21
19 W 0.55 -6.10
20 Komodo title=KMD 0.38 -6.04
21 ForTube title=FOR 0.02 -6.01
22 Chiliz title=CHZ 0.12 -5.93
23 Pendle title=PENDLE 3.99 -5.79
24 Band Protocol title=BAND 1.38 -5.74
25 Hive title=HIVE 0.32 -5.58
26 Arweave title=AR 39.63 -5.53
27 Portal title=PORTAL 0.78 -5.53
28 Cortex title=CTXC 0.31 -5.50
29 Synapse title=SYN 0.75 -5.44
30 Lido DAO title=LDO 1.69 -5.23

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22 Import Prices m/m Thursday 16-05-2024 13:30
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