Blockchain a big part of new CySEC innovation hub

The Cyprus Securities and Exchange Commission (CySEC) is launching an innovation hub focused on the FinTech and RegTech spaces.

FinTech firms will have access to specialised regulatory expertise, industry and academic roundtables, and will also be able to help improve CySEC’s understanding of the risks and benefits of new innovative investment products and platforms using distributed ledger technology.

Demetra Kalogerou, Chair of the CySEC, says: “The establishment of the innovation hub marks an important and exciting step for our supervision of new and innovative FinTech companies in Cyprus. In promoting closer ties with these fledgling but fast-growing industries, we aim to best protect investors by fully understanding the risks and benefits these new products bring.”