SALVUS joins Cyprus Blockchain Technologies think-tank
We are excited to announce the commencement of our strategic collaboration with Cyprus Blockchain Technologies (CBT).
The Cyprus Blockchain Technologies is a non-profit association formed to drive social and business change through the innovative emerging technologies of blockchain and Distributed Ledger Technology (DLT). Further, CBT sets its sights on the development of the jurisdiction of Cyprus as a global technology hub to improve both the private and public sectors on the island.
Cyprus has made large strides in recent years to help realise the enormous potential blockchain technology has, specifically in the financial sector;
- the Cyprus Securities and Exchange Commission (CySEC) announced the Crypto-Asset Services Providers (CASP) regime in 2021 as a way to introduce a new asset class – crypto-assets. The CASP regime operates under a registration, whereby businesses can register with CySEC to provide crypto-asset services in Cyprus and the EU through the passporting scheme.
- In September 2021, the Ministry of Finance in Cyprus announced the DLT bill is out for public consultation. The much-anticipated DLT bill will not only legally define smart contracts but also help regulate records and transactions taking place through Distributed Ledger Technology platforms.
Such developments have found SALVUS at the forefront – even being the first to ever submit a CASP application to CySEC. We look forward to the opportunity of sharing our thoughts, experience and expertise on blockchain, crypto, licensing, and regulation with a network of ambitious professionals both at the individual and corporate level through CBT. Our vision is to work together to create a more complete ecosystem through the use of blockchain technology and DLT.