The regulator stated that it may prioritise applications from entities that are locally regulated.
It highlighted that although MiCA will be implemented on 30 December, there is no deadline for regulatory decisions.
The Cyprus Securities and Exchange Commission (CySEC) announced today (Wednesday) that it is now accepting Crypto Asset Service Provider (CASP) licence applications from prospective entities and individuals for preliminary assessment under the incoming Markets in Crypto-Assets Regulation (MiCA).
The regulator's decision came ahead of the full implementation of MiCA for all European Economic Area members, which will become effective on 30 December 2024.
“This initiative is designed to ensure a smooth transition to MiCAR which represents a major step forward for the protection of investors in financial markets” said the CySEC Chairman, Dr George Theocharides.
No Guarantee of a Decision before the EU Deadline
However, the Cypriot regulator clarified that it does not guarantee approval of the CASP licence before the EU deadline. However, it may prioritise applications and notifications from the existing locally registered entities.
Dr George Theocharides, Chair at CySEC and Chair of the Risk Standing Committee at ESMA
“CySEC reserves the right to assess, consider, or respond to applications/notifications at its discretion, and under no circumstances does a submission during the preliminary examination phase ensure the commencement of the assessment before 30 December 2024 or an expedited procedure,” the Cypriot regulator stated.
“However, CySEC may prioritise applications/notifications from entities already registered with CySEC for the provision of crypto-asset services under the National Rules.”
Unified Crypto Rules in the EU
Last month, CySEC announced that it would stop accepting notifications from EEA firms for cross-border crypto services on 30 October 2024. It asked companies to submit a notification by 30 October and obtain a MiCAR authorisation by 1 July 2026 to continue operations.
The regulator further clarified that despite the pan-European implementation of the MiCA regulations, there is yet to be a timeline for local regulators to approve applications.
“Any applications/notifications submitted during the preliminary examination phase that are not assessed or reviewed up until 30 December 2024 will be assessed within the timeframes and requirements established by MiCAR,” the regulator added.
“Any decision to grant or refuse authorisation or to conclude on the completeness of a notification will be made by CySEC following MiCAR’s application for CASPs on 30 December 2024.”
The incoming MiCA framework will override all existing local crypto licensing rules in place by national regulators within the EU. One of the major advantages of MiCA is that it will allow the passporting of licences across the EEA, which will align with the existing financial services licence in the bloc.
However, MiCA will also mandate the disclosure of the identities of crypto users, along with several other rules. Earlier this year, the EU already implemented MiCA rules for stablecoins, and the framework will also cover all crypto assets in the EU from the end of this year.
The Cyprus Securities and Exchange Commission (CySEC) announced today (Wednesday) that it is now accepting Crypto Asset Service Provider (CASP) licence applications from prospective entities and individuals for preliminary assessment under the incoming Markets in Crypto-Assets Regulation (MiCA).
The regulator's decision came ahead of the full implementation of MiCA for all European Economic Area members, which will become effective on 30 December 2024.
“This initiative is designed to ensure a smooth transition to MiCAR which represents a major step forward for the protection of investors in financial markets” said the CySEC Chairman, Dr George Theocharides.
No Guarantee of a Decision before the EU Deadline
However, the Cypriot regulator clarified that it does not guarantee approval of the CASP licence before the EU deadline. However, it may prioritise applications and notifications from the existing locally registered entities.
Dr George Theocharides, Chair at CySEC and Chair of the Risk Standing Committee at ESMA
“CySEC reserves the right to assess, consider, or respond to applications/notifications at its discretion, and under no circumstances does a submission during the preliminary examination phase ensure the commencement of the assessment before 30 December 2024 or an expedited procedure,” the Cypriot regulator stated.
“However, CySEC may prioritise applications/notifications from entities already registered with CySEC for the provision of crypto-asset services under the National Rules.”
Unified Crypto Rules in the EU
Last month, CySEC announced that it would stop accepting notifications from EEA firms for cross-border crypto services on 30 October 2024. It asked companies to submit a notification by 30 October and obtain a MiCAR authorisation by 1 July 2026 to continue operations.
The regulator further clarified that despite the pan-European implementation of the MiCA regulations, there is yet to be a timeline for local regulators to approve applications.
“Any applications/notifications submitted during the preliminary examination phase that are not assessed or reviewed up until 30 December 2024 will be assessed within the timeframes and requirements established by MiCAR,” the regulator added.
“Any decision to grant or refuse authorisation or to conclude on the completeness of a notification will be made by CySEC following MiCAR’s application for CASPs on 30 December 2024.”
The incoming MiCA framework will override all existing local crypto licensing rules in place by national regulators within the EU. One of the major advantages of MiCA is that it will allow the passporting of licences across the EEA, which will align with the existing financial services licence in the bloc.
However, MiCA will also mandate the disclosure of the identities of crypto users, along with several other rules. Earlier this year, the EU already implemented MiCA rules for stablecoins, and the framework will also cover all crypto assets in the EU from the end of this year.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
Virtu Financial Ireland Gets MiCA Approval and CASP License for EU Crypto Services
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If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
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-How AI and data drive business efficiency and innovation in trading and fintech
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
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-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
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Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
Agentic Inequality: Democratizing Financial Access Through AI & Blockchain
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As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
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-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
