CandleFocus Cyprus Sets the Clock for Crypto Firms: October 30 Deadline Looms
2024-10-17
Author: Content Editor
The Cyprus Securities and Exchange Commission (CySEC) has announced that it will stop accepting notifications from European Economic Area (EEA) firms for cross-border crypto services on October 30, 2024, ahead of the implementation of EU-wide rules known as the Markets in Crypto-Assets (MiCA) on December 30. Firms that successfully notify CySEC before the October 30 deadline will be allowed to continue their operations until July 1, 2026, or until they receive a decision on their MiCA authorization, whichever comes first. The move is part of the EU's effort to create a harmonized regulatory framework for cryptocurrencies and reshape the digital asset landscape.
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