Breaking news

EBA Opens Public Consultation On AML/CFT Standards For Crypto-Asset Service Providers

by THEFUTURE.TEAM

January 24, 2025

The European Banking Authority (EBA) has initiated a public consultation on draft Regulatory Technical Standards (RTS) aimed at defining the criteria for when crypto-asset service providers (CASPs) should appoint a central contact point to ensure compliance with the anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements of host EU member states.

This development stems from amendments made to Article 45(9) of Directive (EU) 2015/849 on 9 June 2023, which extended the scope of existing regulations to include CASPs. Previously, such standards applied only to payment service providers (PSPs) and electronic money institutions (EMIs), as per the original 2018 regulation.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The updated draft RTS, intended to revise the Commission Delegated Regulation (EU) 2018/1108, addresses situations where CASPs operate in member states without establishing branches. Even in these cases, CASPs are required to adhere to local AML/CFT obligations, regardless of whether their local establishments are categorized as ‘obliged entities.’

“The draft RTS specifies the circumstances under which appointing a central contact point is necessary and outlines the responsibilities of such contact points,” the Cyprus Securities and Exchange Commission (CySEC) stated in a press release signed by Chairman Dr George Theocharides.

Stakeholders are encouraged to provide feedback by submitting comments through the EBA consultation page. The deadline for responses is 4 February 2025, and all contributions will be published by the EBA unless confidentiality is requested.

Dr. Theocharides urged regulated entities to participate in the consultation, emphasizing the importance of shaping standards that ensure effective compliance across the EU’s crypto landscape.

The Future Forbes Realty Global Properties

Cyprus Beer Exports Slide 24.2% In June 2025 Amid Market Shifts

by THEFUTURE.TEAM

July 9, 2025

Industry Overview And Key Figures

Data from the Statistical Service, Cyprus (Cystat), reveals a significant decline in beer exports from local factories in June 2025. Exports dropped to 245,087 litres, representing a 24.2% decrease from 323,278 litres recorded in June 2024. In contrast, domestic consumption experienced a modest increase of 1.5%, reaching 4,601,840 litres. These trends contributed to an overall slight contraction in total beer deliveries, which fell by 0.2% year on year to 4,846,927 litres.

Comparative Analysis With The Previous Month

May 2025 presented a markedly different scenario. During that month, beer exports surged by 83.9% to 381,641 litres, while domestic consumption fell by 8% to 4,115,967 litres. The net effect was a 4% year-over-year decrease in total deliveries, with figures amounting to 4,497,608 litres in May 2025. This stark contrast underscores a volatile market dynamic that warrants close attention from industry stakeholders.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Market Implications And Future Outlook

The data highlights a shift in market trends, with significant fluctuations in export performance juxtaposed against stable domestic consumption. Such variance suggests that external market conditions or changes in export strategies might be influencing factors. For investors and industry analysts, this divergence provides critical insights into the evolving landscape of Cyprus’ beer production and distribution sectors.