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ARTICLE · 01 NOVEMBER 2017

CySEC Issues Timely Advice On Trading In Cryptocurrencies

AGPLAW | A.G. Paphitis & Co. LLC
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And so the investor's final decision on whether or not to invest in virtual currencies is simply down to the investor himself.

CyprusFinance and Banking
AGP Law/ A.G. Paphitis & Co. LLC
AGP Law/ A.G. Paphitis & Co. LLC
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This article is a review of advice issued by the Cyprus Securities and Exchange Commission regarding investment in virtual currencies and related products in CySEC circular №С244 of 13 October entitled "Trading in virtual currencies and/or trading on contracts for differences relating to virtual currencies." The focus is on the circular's main regulations and the likely risks of trading in virtual currencies:

The main conclusion that we can draw after studying the circular is that virtual currencies were not explicitly recognized as legitimate funds, while market participants were given the right to independently assess all the risks and possible financial implications of investing in virtual currencies and contracts as to the difference. Let's consider the basic requirements that Cyprus Investment Firms (CIFs) have to comply with, which have received prior approval from CySEC and currently have the right to provide services related to virtual currencies or

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