CySEC CASP Register is live
As of this week, the Cyprus Securities and Exchange Commission (CySEC) CASP Register is live online – a CASP being a Crypto-Asset Services Provider; a firm providing crypto-asset services. This development marks another important step towards the realisation of Cyprus as a top-tier jurisdiction for regulated crypto-businesses to operate.
The CySEC CASP registration regime was introduced by CySEC in September 2021. What followed was the high demand for CASP applications from new entrants in the market as well as existing businesses, including the world’s biggest crypto exchanges. With that said, the CASP Register is now live.
CySEC’s launching of the CASP Register is welcomed by all current applicants in the pipeline for review as well as by investors and other groups wanting to set up a crypto-asset services business in Cyprus. The value of the CySEC CASP regime is in its compliance with the European Anti-Money Laundering (AML) regulatory framework which will enable crypto-asset services providers to establish relationships with other regulated entities such as banks and other payment institutions. In turn, this will CASP entities to offer their services with credibility and reliability.
Our Crypto-Assets team at SALVUS has been working with applicants pursuing a CASP registration for a number of different business models including crypto-exchanges, crypto-assets custody, and crypto-payments. In handling these applications, our team has noted that CySEC and other stakeholders involved in meeting all the requirements of the CASP regime are rapidly maturing both in their understanding and acceptance of this evolving space of crypto-assets services provision.