CySEC to launch its Regulatory Sandbox
The Cyprus Securities and Exchange Commission (CySEC) has announced the creation of a regulatory sandbox.
In light of the rapid advancements in financial, regulatory, and supervisory technologies, the Cyprus Securities and Exchange Commission (CySEC) has announced the establishment of its regulatory sandbox as an evolution of its innovation hub.
The regulatory sandbox will provide an opportunity for innovative solutions to be tested in a controlled environment under CySEC's supervision and guidance. Its introduction will be held through an online event on June 11, 2024.
With the establishment of the regulatory sandbox, the CySEC Innovation Hub will cease operations.
Dr. George Theocharides, Chairman of CySEC, stated: "The regulatory sandbox marks an important step in promoting responsible innovation within the Cyprus financial services market. It aims to further encourage the development of innovative solutions that align with technological advancements while ensuring investor protection and market integrity."
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