In response to the rapid advancements in financial, regulatory, and supervisory technology (FinTech, RegTech, and SupTech), the Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the launch of its Regulatory Sandbox.
This initiative represents the evolution of its previous Innovation Hub and is designed to offer a controlled environment for the testing of innovative solutions, under CySEC’s careful monitoring and guidance.
The presentation of the Regulatory Sandbox is scheduled for June 11, 2024, and will be conducted through an online event.
Further details about the event and registration information can be found in the invitation to participate here.
Consequently, the CySEC Innovation Hub will cease its operations considering this new development.
Commenting on the launch, CySEC’s Chairman, George Theocharides, said that “the Regulatory Sandbox marks a significant step forward in fostering responsible innovation within the financial services markets in Cyprus.”
He concluded, “Through this initiative, we aim to further encourage the development of innovative solutions in line with technological developments while ensuring investor protection and market integrity.”(cyprus-mail)
