Cyprus Prepares A New Bill to Become Global Crypto Hub

  • Cyprus is vetting a cryptocurrency “umbrella” bill in a bid to establish the Mediterranean nation as a premier destination for digital asset innovators and companies.
  • The legislation, the Distributed Ledger Technology Bill, was published for public comment in 2021 and is now undergoing legal vetting, Kyriacos Kokkinos, Cyprus’ deputy minister to the president for research, innovation and digital policy, told Blockworks.
  • The bill focuses on clarifying policies around the digital asset industry and amends existing related laws, such as property law and tax codes.