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CySEC announced registration rules for cryptocurrency companies

CySEC announced registration rules for cryptocurrency companies

The Cyprus Securities and Exchange Commission showed a Policy Statement on the Registration and Operations of Crypto Asset Services Providers (CASP).

CASP is an individual or a company that provides these tools and solutions mentioned below:

Swap between digital coins and fiat money;

Change between virtual assets;

Control, transfer, keeping, including custody, of virtual funds or cryptographic keys or means which allow the exercise of control over crypto-assets;

Offering and/or sale of crypto-assets, including the initial offering;

Participate or provide solutions regarding the spreading, offer and/or sale of cryptocurrencies, including the initial offering.

The business from Cyprus must be registered with CySEC in order to be able to provide services and/or perform activities in relation to digital coins and will be regulated by CySEC under the Cumulative CASP framework.

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