The Cyprus Securities and Exchange Commission (CySEC) launched its Regulatory Sandbox on June 11, 2024, through an online event. This initiative signifies progress in financial, regulatory, and supervisory technologies such as FinTech, RegTech, and SupTech in Cyprus.

Hosting Virtual Launch for Regulatory Sandbox

Dr George Theocharides, Chair at CySEC and Chair of the Risk Standing Committee at ESMA

More than 500 stakeholders from the financial sector participated in the virtual launch event. Attendees included representatives from regulatory bodies, financial institutions, and technologically innovative firms. They received information on the Sandbox's operational framework and its potential benefits for market participants.

Following the event's conclusion, Dr George Theocharides, Chairman of CySEC, underscored the initiative's significance, stating: “With the introduction of the Regulatory Sandbox, we are taking another major step in fostering 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.”