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Monthly Regulatory Newsletter - April 2024

Monthly Regulatory Newsletter - April 2024
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Cyprus Implements The 5th AML Directive – Key Developments And The Introduction Of Cryptoassets Service Providers - Technology

A.
INTRODUCTION
The Cyprus House of Representatives on 18.02.2021 has enacted
the long-awaited amending law to the Prevention and Suppression of
Money laundering and Terrorist Financing Law 188(I)/2007 thus fully
implementing EU Directive 2018/843 of the European Parliament and
of the Council of 30 May 2018, ( the 5
th AML
Directive ).
This new enactment, ( the new Law ), implements the
provisions of the 5
th AML Directive that were not
already implemented so far into Cyprus Law. With this new Law, the
5
th AML Directive is now fully implemented in
Cyprus.
The new Law will come into force once published in the official
gazette of the Republic. ....

Cyprus , Exchange-commission-cy , European-parliament , Central-bank , European-commission , Cryptoasset-service , Registrar-of-companies , Creation-of-the-service , Registry-of-bank , Cyprus-house , Terrorist-financing-law