Revolut to Open a Crypto Hub in Cyprus
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UK-based fintech company Revolut plans to build a new crypto hub in Cyprus to comply with the rules of local regulator CySEC.
According to local media, the center will allow the payment system to conduct operations with cryptocurrency in the EU.
Revolut representatives have said they support CySEC’s proposed strict customer protection measures to prevent any type of abuse in the crypto market. These rules are enshrined in the MiCA bill, agreed by the European Parliament on 30 June.
Among other things, the MiCA proposes to bring crypto assets, their issuers and service providers into a single regulatory framework.
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