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Government Submits Bill To Parliament On US Visa Waiver Conditions For Cypriots

by THEFUTURE.TEAM

The Cyprus government has submitted a bill to the House of Representatives plenary, aiming at meeting the necessary preconditions for the Republic of Cyprus to join the United States Visa Waiver Programme.

The bill which was approved by the Cabinet on 19 June, authorised the Minister of Justice and Public Order to present it to the House of Representatives for enactment.

The primary objective of this bill is to ratify the agreement, following Article 169.2 of the Constitution, between Cyprus and the US governments on travel information cooperation. This agreement was signed in Washington D.C., on June 17, 2024.

The agreement establishes a framework for cooperation between the two countries in evaluating, reviewing, and exchanging travel information. It also aims to develop risk assessments to identify specific individuals travelling internationally, who may pose a security threat to either of the involved nations.

At present, Cyprus, Romania, and Bulgaria are the only EU member states whose nationals still need a visa to enter the US.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

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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