Crypto Compliance in Cyprus: MiCA, the Travel Rule & How Scorechain Helps

Cyprus has become a key hub for crypto innovation, but with opportunity comes regulatory responsibility. As the European Union rolls out the Markets in Crypto-Assets Regulation (MiCA) and strengthens AML requirements with the Travel Rule, compliance is non-negotiable.

This guide breaks down what you need to know—and how Scorechain helps crypto businesses in Cyprus stay ahead of regulations.

MiCA in Cyprus: Key Dates & Requirements

MiCA provides a clear framework for crypto regulation across the EU. If you're a Crypto-Asset Service Provider (CASP) in Cyprus, here's what you need to know:

• June 30, 2024 – MiCA rules for asset-referenced tokens (ARTs) and e-money tokens (EMTs) take effect.
• December 30, 2024 – Full MiCA compliance required for all CASPs, including licensing and operational requirements.
• July 1, 2026 – CASPs operating before MiCA’s enforcement must obtain authorization from CySEC or cease operations.

CySEC, the regulator in Cyprus, is enforcing MiCA and has set transitional rules for CASPs to continue operations while seeking full compliance.

How Scorechain Helps

🔹 Full MiCA Compliance – Our crypto risk analytics platform ensures your business aligns with MiCA’s AML, risk, and reporting requirements.
🔹 Licensing Readiness – Get the data and transaction monitoring you need to meet CySEC’s compliance standards for MiCA authorization.
🔹 Ongoing Risk Assessment – Use Scorechain’s real-time monitoring to flag suspicious activity and manage crypto risk effectively.

The Travel Rule: What Cyprus CASPs Must Do

The Travel Rule, based on FATF Recommendation 16, applies to all crypto transactions involving Cypriot CASPs.

What’s Required?

✅ Sender & recipient information must be collected and transmitted with every transaction.
✅ Record-keeping obligations – CASPs must store transaction data for at least five years.
✅ Enhanced monitoring – Transactions involving high-risk jurisdictions require additional due diligence.

How Scorechain Helps

🔹 Automated Travel Rule Compliance – Our solution identifies and shares required transaction data seamlessly.
🔹 Risk Scoring for Crypto Transfers – Detect risky transactions in real-time to prevent financial crime before it happens.
🔹 Regulatory Reporting Made Easy – Generate audit-ready reports to stay compliant with CySEC and EU authorities.

Stay Compliant with Scorechain 🚀

With MiCA and the Travel Rule reshaping crypto compliance in Cyprus, CASPs need the right tools to stay ahead. Scorechain delivers the compliance intelligence you need to operate securely and confidently.

💡 Need a MiCA-ready compliance solution? Let’s talk!

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