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The Cyprus Securities and Exchange Commission (CySEC) successfully launched its Regulatory Sandbox in an online event on June 11, 2024. This initiative represents a significant step forward in the development of financial, regulatory and supervisory technologies (FinTech, RegTech and SupTech) in Cyprus.

Following the event, Dr. George Theocharides, Chairman of CySEC, highlighted the initiative’s significance: “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.

The virtual launch event was attended by over 500 stakeholders from the financial sector, including representatives from regulatory bodies, financial institutions and tech-driven firms. Attendees were informed about the Sandbox’ operational framework and the potential benefits for market participants.

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