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CySEC Adopts ESMA Guidelines For CASPs Under MiCA

by THEFUTURE.TEAM

June 21, 2025

Regulatory Update Drives Uniform Supervisory Practices

The Cyprus Securities and Exchange Commission (CySEC) has officially incorporated several guidelines from the European Securities and Markets Authority (ESMA) that impact crypto-asset service providers (CASPs) under the Markets in Crypto-Assets Regulation (MiCA). With this initiative, CySEC’s circular outlines detailed expectations regarding transfer services, reverse solicitation, and portfolio management activities related to crypto-assets.

Clear Directives For Transfer Services

Issued on February 26, 2025, the ESMA guidelines on transfer services are grounded in Article 82(2) of MiCA. They are designed to instill consistency and efficiency within the European financial supervision system while reinforcing a uniform approach to applying MiCA’s provisions. Furthermore, the guidelines delineate robust procedures and client rights measures intended to heighten investor protection for CASPs involved in transferring crypto-assets.

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Enhanced Transparency In Reverse Solicitation

CySEC also highlighted ESMA’s guidelines on reverse solicitation, introduced on December 17, 2024. Although these guidelines primarily target competent authorities, they serve as a critical reference for both existing and prospective CASPs. The circular draws attention to specific paragraphs and illustrative examples that elucidate circumstances under which a third-country firm might be deemed to be soliciting clients within the European Union.

Standardizing Portfolio Management Requirements

The third set of guidelines, released on March 26, 2025, addresses portfolio management activities. Based on Article 81(15) of MiCA, these standards require CASPs to adhere to defined requirements regarding the suitability of crypto-asset advice and the formatting of periodic statements. This move is aimed at fostering consistent application of several MiCA provisions, thereby ensuring that supervisory practices remain effective across the board.

Implementation Timeline And Executive Endorsement

All three sets of guidelines will take effect 60 calendar days following their publication on ESMA’s website in all official EU languages. The endorsement of these measures by CySEC Chairman George Theocharides underscores the sector’s commitment to transparency, regulatory coherence, and enhanced investor protection in the rapidly evolving crypto market.

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Bank Of Cyprus Launches Cybersecurity Programme For Students In Limassol

by THEFUTURE.TEAM

March 31, 2026

Bank of Cyprus launched a cybersecurity initiative in Limassol as part of its “The Young Ask and Provide Solutions” programme, involving students in simulated cyberattack scenarios. The programme focuses on practical training in cyber defense and awareness of risks linked to digital infrastructure.

Innovative Collaboration And Real-World Challenges

In partnership with the Education Ministry and non-profit organization TechIsland, the programme provided a robust platform for young minds to confront realistic cyberattack simulations. Held at the modern Limassol regional offices of the Bank of Cyprus, the interactive space enabled 60 secondary school students from across the region to collaboratively tackle the complex threats facing national digital infrastructure.

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Practical Exercises And Strategic Insights

Participants took part in workshops built around cyberattack scenarios. Tasks included identifying prevention strategies, planning response measures, and proposing public awareness approaches. The exercises focused on coordination and decision-making during cyber incidents.

Empowering Tomorrow’s Leaders

According to Elli Ioannidou, the programme is designed to combine theoretical knowledge with practical experience. She said the initiative aims to help students understand real-world challenges and develop problem-solving skills. Additional input was provided by Marios Stavrou, who noted that managing cyber incidents requires coordination across multiple teams and functions.

Building A Resilient Cyber Ecosystem

Experts, including Mathaios Panteli and Tanya Romanyukha highlighted the importance of early digital skills and cybersecurity awareness. Their comments focused on preparing the future workforce skills needed for managing digital risks. The programme forms part of broader efforts to strengthen cybersecurity awareness and education in Cyprus.

The Bank of Cyprus remains committed to investing in forward-thinking initiatives that inspire youth and enhance community awareness. Through these targeted efforts, the bank is not only addressing immediate security challenges but also contributing to a future where advanced technology and robust cyber defense mechanisms coexist seamlessly.