MiCA Regulation Update - CySEC Releases Circular On Notification For Crypto-Asset Services Under Article 60

Cyprus has long been recognised as a reputable international financial and corporate centre. However, in recent years, the island has also become a target for fraudulent or unlicensed investment and forex companies that exploit its good reputation and European regulatory framework.

Today, 7 May 2026, the EU Parliament and Council reached a provisional agreement on simplification of compliance with the AI Act earlier proposed as part of the Digital Omnibus.

In January 2026, the European Commission unveiled its plan to overhaul the EU's Cybersecurity Act, a proposal now known as CSA2. It's the natural next step in a story that began years earlier with the EU's 2020 "5G Security Toolbox" - a set of voluntary recommendations encouraging Member States to be cautious about certain telecom suppliers. That voluntary approach produced patchy results: by most accounts, fewer than half of EU countries had actually acted on those recommendations. It is worth asking whether the adoption levels were however a failure of design, or a reflection of Member States reaching different conclusions about their risk exposures.

The capital of Bulgaria, Sofia, was ranked among the top 25 cities in Europe at the "fDi and TNW's Tech Cities of the Future" for 2020/21.

On 2 February 2024, the EU's Artificial Intelligence Act was unanimously approved by the Council of EU Ministers.

The new regulation aims to establish a comprehensive regulatory framework for cryptocurrencies and other digital assets.

The January issue, of the Great Britain-Cyprus Business Gazette features an article by our Chief Information Officer, Michael Ioannou. In his article Michael explains why the issue of cybersecurity...

Artificial intelligence is often presented as either a blessing or a curse. In reality, it has the potential to become both. While AI is transforming modern life in remarkable ways, it is also creating entirely new forms of abuse capable of violating privacy, dignity and fundamental human rights.

The European Commission has unveiled the European Technological Sovereignty Package, a comprehensive legislative framework targeting four critical areas: semiconductor manufacturing through Chips Act 2.0, cloud and AI infrastructure via the Cloud and AI Development Act, digital autonomy through open source strategy, and energy sector digitalization. This ambitious initiative aims to fundamentally transform Europe's technological independence and competitive position in the global digital economy by 2030.

Deloitte in cooperation with the Cyprus Army Officers Association, organised a 'Cyber security and Protection of Critical Infrastructures' seminar on 25 October 2017, in Nicosia.