Financial Services And Regulatory Updates August 2023

Directive (EU) 2024/1619, published in the EU Official Journal on 19 June 2024 is nearing its transposition deadline of 11 January 2026.

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp

Adult industry businesses operating in Cyprus often find that legal permission alone does not ensure operational stability. Even when content creation, data protection...

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?

Launching a high-risk business in sectors like iGaming, crypto, fintech, or adult entertainment requires strategic corporate structuring from the outset. This comprehensive guide examines how jurisdiction selection, ownership transparency, payment flows, and compliance preparation directly impact licensing approval, banking access, and long-term operational stability in heavily scrutinized industries.

It was announced today that Cyprus is suspending the Cyprus Investment Programme in its current form. Suspension will take effect from the 1st of November 2020.

The licensing Procedure and the operation of E-Money (EMI) and Payment (PI) institutions are currently regulated by the EU Directive 2009/110/EC

Operating an adult entertainment business in Cyprus may be legal, but securing banking and payment services presents significant operational hurdles. Financial institutions apply heightened scrutiny to these businesses despite full legal compliance, creating challenges that require strategic planning and transparent risk management to overcome.

The European Banking Authority (EBA) has published two significant sets of Guidelines on internal policies, procedures, and controls for the implementation of Union and national restrictive measures.

On 11 June 2026, the Court of Justice of the European Union (the “Court”) delivered its judgment in Case C-81/24, Jenec. The case concerned the relationship between the right of access to a payment account with basic features under Directive 2014/92/EU (the “Payment Accounts Directive”) and the AML/CFT obligations imposed on financial institutions under Directive (EU) 2015/849 (the “AML Directive”).