The Cyprus Securities and Exchange Commission (CySEC) successfully launched its regulatory sandbox during an online event held on June 11, 2024, marking a significant milestone in the development of financial, regulatory, and supervisory technologies in Cyprus.

After the event, CySEC Chairman Dr. George Theocharides emphasized the importance of this initiative:

"With the launch of the regulatory sandbox, we have taken another significant step in promoting responsible innovation in the financial services sector. Our goal is to support the development of cutting-edge solutions that meet technological advancements without compromising market integrity and investor protection."

The virtual launch ceremony attracted over 500 stakeholders from the financial industry, including representatives from regulatory bodies, financial institutions, and technology innovation companies. Attendees were briefed on the operational framework of the sandbox and the potential benefits for market participants.