Cyprus: The Blockchain Friendly Island

Cyprus has since the early 80s been well known as a major financial hub in the Mediterranean region and with its favorable tax regime Cyprus is an obvious choice for businesses and investors.

Cyprus has acceded to the European Union on May 1, 2004 and has since became a prime business and financial business center within the EU. Since 2008 Cyprus has managed to become a hub in the investment services industry following a boom in the field of financial technology. In September 2018, CySEC, Cyprus's financial regulatory body launched the "Innovation Hub."

The Innovation Hub provides a platform where both supervised and non-supervised entities will have ongoing access to CySEC's regulatory insights in order to better understand and implement their regulatory requirements. The aim is to create a better and more effective relationship between companies operating in this area and the way they are regulated. It is this transparency that opens the door for blockchain