Cyprus is possibly going to enforce a new regulatory framework for the use and distribution of cryptocurrencies within the country’s borders before the EU finalizes its own crypto legislation.
Kyriacos Kokkinos, Minister of Innovation, has revealed the plans for the upcoming legislation paper in a recent fintech meeting.
Kokkinos, in his presentation, spent a considerable amount of effort to clearly identify Cyprus’ goal to embrace the crypto world at large while also honoring the laws. The authority counselor, while presenting his opinion, mentioned Malta, which recently integrated cryptocurrencies into a lot of the country’s financial sphere and was met with ridicule and distrust from a lot of foreign businesses.
