Cyprus
Overview
As an EU member state, Cyprus applies MiCA directly. The Cyprus Securities and Exchange Commission (CySEC) is the national competent authority that authorises and supervises crypto-asset service providers established in Cyprus, and previously ran a national CASP registration regime that transitions into MiCA.
Regulatory framework
CySEC authorises CASPs under MiCA and supervises conduct, prudential and AML requirements; authorised firms passport across the EEA.
Licensing & authorisation
Firms apply to CySEC for MiCA CASP authorisation. CySEC acknowledges receipt within 5 working days, assesses completeness within 25 working days, and decides within 40 working days of a complete file (Arts 62–63); the clock stops while answers are awaited.
Charges are fixed by CySEC Directive DI 73-2009-04 (Charges and Fees, 2024), per service: the application charge runs from €5,000 (exchange, transfer services) to €30,000 (trading platform), with an annual fee per service of €5,000 to €20,000.
Own funds are the higher of the Annex IV class minimum (€50,000 class 1, €125,000 class 2, €150,000 class 3) or one quarter of the preceding year’s fixed overheads, held continuously (Art. 67).
The Cyprus licensing guide carries the full service-by-service charge table, the substance expectations and the application file.
AML & Travel Rule
The EU Transfer of Funds Regulation Travel Rule applies to all CASP transfers.
Track developments
This jurisdiction is covered by the live wire — see the latest official items filtered to it.
Live updates on the radarSources & official links
RELATED: MiCA Library, MiCA Radar