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Cyprus Government Launches Online Compensation Portal For Bank Bail-In Victims

by THEFUTURE.TEAM

June 20, 2025

The government has officially unveiled an online platform designed to facilitate partial compensation for losses incurred during the 2013 bank bail-in. The initiative targets uninsured savings beyond €100,000 and addresses losses suffered by bondholders of legacy Laiki (Popular) Bank and Bank of Cyprus.

Digital Platform Live For Submission

The platform is now operational, accepting applications from December 20, 2023, through May 25, 2024, and will remain accessible until September 30 this year. Users can log in using their existing credentials from the CY Login (formerly Ariadne) system to begin the application process.

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Structured Verification And Disbursement Process

Upon submission, each application will undergo a thorough verification process. Successful applicants will receive an email detailing the compensation amount they are eligible for and will then be required to provide their IBAN for direct bank transfer. It is imperative that the bank account provided is either individually owned or a joint account.

Compensation Caps And Policy Framework

For fiscal year disbursements, compensation is capped at €100,000 per individual. Specific compensation limits are set based on the institution: legacy Laiki (Popular) Bank savers and male bondholders from Laiki can receive up to €100,000, whereas Bank of Cyprus savers and bondholders have caps of €13,032 and €99,760 respectively. These measures emerge from a 2013 bailout initiative where depositors contributed to the recapitalization of financially strained banks amid Greece’s economic crisis.

Pathway For Further Objections

Applicants who do not receive approval for their initial submissions have the opportunity to file an objection, ensuring that all claims receive further scrutiny. With verified losses estimated at approximately €2 billion, this platform is a critical step towards restoring confidence and providing financial redress for affected depositors and investors.

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Trump Defers TikTok Ban Enforcement With Strategic Divestiture Demands

by THEFUTURE.TEAM

June 30, 2025

In a move that underscores the complex interplay between national security and digital innovation, President Donald Trump announced a further postponement in enforcing the U.S. TikTok ban. The latest deferment hinges on a crucial stipulation: ByteDance, the Chinese owner of TikTok, must divest its U.S. operations to avoid the ban.

Policy Implications and Strategic Calculus

Speaking on Fox News, President Trump emphasized that a coalition of influential investors is prepared to acquire TikTok, with details set to emerge in the coming weeks. This calculated strategy reflects the administration’s commitment to addressing concerns about data security and potential content manipulation by foreign entities. The policy framework aims to safeguard sensitive American data while maintaining a platform that has significantly engaged younger voters.

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Economic Interests and Geopolitical Nuances

The proposed divestiture has garnered interest from high-profile figures and major tech players, including Oracle’s Larry Ellison and firms such as AppLovin and Perplexity AI. Despite this enthusiasm, any transaction will likely require approval from Beijing, with President Trump hinting that President Xi Jinping may show readiness to cooperate given the broader geopolitical context.

Legislative Environment and Future Prospects

The current policy landscape is shaped by the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), which was designed to curb the influence of foreign-controlled technology platforms. After ByteDance received multiple extensions on its compliance deadline—with the next set for September 17—the administration appears to be navigating a delicate balance between upholding U.S. regulatory standards and preserving key economic interests. While TikTok experienced a temporary blackout in the U.S., assurances from the White House facilitated its swift return.

Legal and Regulatory Challenges Ahead

Despite these developments, uncertainty remains regarding ByteDance’s willingness to divest and the legal hurdles that such a deal might encounter under current U.S. law. As Washington and Beijing continue to negotiate a path forward, the future of TikTok in the American market remains a focal point of intense regulatory and economic scrutiny.