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CySEC Launches Its Regulatory Sandbox

by THEFUTURE.TEAM

June 12, 2024

The Cyprus Securities and Exchange Commission (CySEC) has launched its Regulatory Sandbox during an online event. This initiative marks a significant milestone in advancing financial, regulatory, and supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus.

After the conclusion of the 11 June event, Chairman of CySEC George Theocharides, emphasised the initiative’s importance.

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“With the introduction of the Regulatory Sandbox, we are taking another major step in fostering responsible innovation in the financial services sector. Our goal is to support the development of cutting-edge solutions that meet technological advancements, without compromising market integrity and investor protection,” he said.

The virtual launch event attracted over 500 stakeholders from the financial sector, including representatives from regulatory bodies, financial institutions, and technologically innovative firms. The attendees were briefed on Sandbox’s operational framework and the potential benefits for market participants.

CySEC is now inviting interested parties to submit their applications to participate in the Regulatory Sandbox.

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Cyprus Reconsiders EU Green Taxes to Prevent Consumer Impact

by News Editor

May 15, 2025

The Cypriot government is navigating complex tax scenarios amid new EU green regulations that pose potential increases in consumer costs. Responding to these concerns, President Nikos Christodoulides highlighted the strategic necessity to stall or minimize new carbon taxes to prevent significant financial pressure on residents through heightened water and fuel tariffs.

These proposed measures fall under the EU’s Recovery and Resilience Facility (RRF), aimed at accelerating Europe’s green transition. During a recent interview with Omega TV, President Christodoulides assured that Cyprus is working closely with EU officials to mitigate these impacts, even if it means sacrificing some financial assistance from the initiative.

Efforts to balance environmental commitments with fiscal responsibilities reflect a broader dedication to sustainable development.