The Chairman of the Cyprus Securities and Exchange Commission (CySEC), Dr. George Theocharides, highlighted CySEC's regulatory work in 2023 at a press conference: in 2023, a total of 82 entities were approved, and as of the end of February 2024, the number of regulated entities was 830.。

"In the last four years, the number of regulated entities has increased by 12%, indicating that Cyprus still has a huge advantage as an investment destination.。According to the latest figures for February, 78 applications are being assessed for licensing.。"

Regarding investor education, CySEC noted that the commission issued warnings to the investing public and conducted specialized social media campaigns targeting natural persons and legal entities posing as CySEC officials or representatives, as well as websites impersonating CySEC or other regulatory bodies.。

Dr. Theocharides noted that in 2023, the Regulatory and Anti-Money Laundering / Combating the Financing of Terrorism Unit conducted more than 700 on-site and remote thematic inspections of regulated entities.。

During 2023, the evaluation of promotional materials in more than 35 China International Finance Corporation promotional announcements was also completed, and in the event that misleading materials were found, it was recommended that China International Finance Corporation modify the promotional materials for investors.。

By the end of 2023, the Department of Market Surveillance and Investigations had conducted market entry investigations into six CIFs, completed 42 investigations and had another 48 investigations in progress.。At the same time, the department submitted a case to the Attorney General of the Republic to determine whether there was a potential criminal offence by a company or an individual.。

The CySEC chairman noted that one of the most important changes that will emerge at the end of 2024 is the implementation of the Crypto Asset Markets Regulation (MiCA), which deals with crypto-asset service providers.。The MiCA includes, among other things, provisions designed to ensure investor protection and market integrity.。

"All regulators in Europe, including CySEC, are already preparing for the adoption of these changes and have informed regulated entities and other interested parties in the industry.。It is important that regulated entities prepare in a timely manner to acquire appropriate systems or further equip appropriate human resources to meet new requirements。"Dr. Theocharides said。

He also urged investors to be particularly cautious when investing in crypto assets, which involve many risks.。