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Bill On RoC-US Agreement For Travel Sent To House Plenary For Vote

Α bill on the agreement between the Republic of Cyprus and the United States of America for cooperation on the use of travel information is to be tabled to the House Plenary for a vote this week.

Justice Minister, Marios Hartsiotis, told the House of Representatives Committee on Foreign Affairs that if the bill is passed on time, possibly at the end of 2024, “certainly within 2025”, we will be able to talk about visa liberalisation.

During the session, Hartsiotis briefed the Committee members on the bill concerning the agreement between the Governments of the Republic of Cyprus and the US, regarding the use of travel information. He said that the agreement is one of the conditions for the inclusion of the Republic of Cyprus in the US visa waiver program.

On a practical level, he said, travellers to the US for a period of up to 90 days will have to fill out an online application, and that, in a short time, and at minimal cost, they will receive an answer, after their information is passed through the system.

He also noted that currently, those who want to travel to the US have to go through a difficult procedure.

If everything goes well and the bill is passed on time, the Minister said, possibly by the end of the year, or certainly within 2025, “we will now be able to talk about” visa liberalisation.

Hartsiotis also referred to a “massive benefit” regarding further shielding the State against all types of risks, such as organised crime, drugs, terrorism, etc. He also said that the Republic of Cyprus would have at its disposal “perhaps one of the most perfect” information exchange systems.

Chairman of the Committee, Harris Georgiades, said that the bill is to be tabled to the plenary this week.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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