Following the transposition of 5th EU Anti-Money Laundering (AML) Directive (EU 2018/843) in to Cyprus Law, providers offering services related to crypto-assets (“Crypto-Asset Service Providers” – “CASPs”) were brought within the scope of the local AML legislation. Furthermore, it was decided that Cyprus CASPs should become approved and registered with the Cyprus Securities and Exchange Commission (CySEC).
CySEC, as the responsible regulatory and supervisory authority, issued on 25 June 2021 the “Directive for the Prevention and Suppression of Money Laundering (Register of Providers of Services Related to Crypto-assets)” (the “Directive”), to provide for the registration and operating conditions in relation to such services.
The Directive covers, among others, the following:
CySEC is expected to publish on its website, the CASPs’ register. The register must be publicly accessible and must include information such as the commercial name, the legal form and the legal entity identifier of the CASP, its address and the services, which it offers. It is also expected that CySEC will publish soon a Policy Statement clarifying some matters related to the Directive.