Breaking news

New AML Directive by the Central Bank of Cyprus Set to Strengthen Economy

by News Editor
Central Bank of Cyprus

On May 2, the Central Bank of Cyprus (CBC) is set to unveil a comprehensive update to its AML (Anti-Money Laundering) and terrorist financing directive. This strategic overhaul aims to bolster compliance for financial entities while easing procedures for local citizens and businesses.

The directive seeks to introduce a modern compliance framework that balances thorough oversight with practical simplicity. By refining interaction protocols within the financial system, the CBC hopes to not only enhance public trust but also to increase the competitiveness of the Cypriot economy globally.

The upcoming presentation will include insights from the CBC technocrats, focusing on key sections to assist individuals and businesses. As Cyprus continues to embrace financial and technological advancements, initiatives like these highlight the island’s commitment to agile and transparent governance.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

by THEFUTURE.TEAM

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

The Future Forbes Realty Global Properties
Uol
Aretilaw firm
eCredo

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter